Moody’s: CalPERS’ De-Risking Plan Is Still Risky
It would take the $300 billion fund nearly 20 years to cut the discount rate to 6.5%, during which asset performance could fall drastically, the ratings agency said.
Risk
L&G Dives Into Dutch De-Risking
The €200 million transaction is hailed as a “significant milestone” as the Netherlands' market begins to open up.
For Plan Sponsors, Passive Doesn’t Equal Safe
Plan sponsors have significant fiduciary obligations regardless of whether they choose active or passive management, according to Russell Investments.
Cliff Asness Defends Risk Parity
AQR’s co-founder puts recent risk parity performance into perspective.
Why Investors Can't Ignore Climate Change
Reports show investors face mounting risks, especially as new carbon regulations are proposed at the United Nations Climate Change Conference.
Labor Dep. Delivers ‘Boost for US Responsible Investing’
Take up of ESG lenses could increase after the US clarified that these strategies do not violate fiduciary responsibilities.
Moody’s: PBGC Likely to Go Broke by 2025
The ever-increasing premiums intended to close a growing deficit could ultimately push the insurer over the edge.
Scottish Widows Enters De-Risking Market
The Lloyds Bank subsidiary makes its bulk annuity debut with a £400 million buy-in.
How Short-Termism Hurts Governance
Institutional investors believe corporate governance is a critical driver of performance, but struggle to focus on the long term, Aberdeen Asset Management has argued.
Pensions Urge ‘Strong Action’ over Climate Change in Paris
The managers of €215 billion of European pension assets have set out demands for policymakers ahead of next month’s crucial climate summit.
CalPERS Targets 100% Funding with Discount Rate Changes
The US’ largest public pension wants to make future contributions more predictable—and close its 23% funding gap.
GSAM Surprises, NISA & LGIMA Persist in LDI Survey
Goldman’s debut sees it outrank industry stalwarts in CIO’s annual survey.
Mexican Oil Producer Switches to DC
State-owned oil company Pemex has taken steps to address its $90 billion pension liability.
The Wisconsin Model
State pension CIO David Villa explains why the hybrid DB/DC model that has supported Wisconsin’s retirees for 30 years needs more attention.