A new survey by Aviva, the UK’s second-biggest insurer, has found that the pensions gap in Europe is equivalent to 19% of the European Union’s 2010 GDP, providing evidence that unless individuals increase their saving for retirement the majority will face a seriously reduced standard of living.
In a speech that comes just before the SEC's report on the "flash crash," the regulator's chairman provided an early indication of how her agency wants to construct a more scrutinized derivatives market.
The consultancy group Mercer has revealed that accounting measures of the liabilities of defined benefit (DB) schemes in most developed economies have seen marked increases in liabilities due to declining corporate bond yields.
Fitch Ratings has said European asset managers must restore investor interest in actively managed investment through greater transparency on their products, processes, and communication.
A $452 million bid for the city’s parking system, if approved by City Council, would allow Pittsburgh’s 25% funded pension to avoid the fate of being taken over by the state.
China's $300 billion sovereign wealth fund has stated it "has doubts" in investing in old line automakers and must instead invest in relatively conservative and stable industries "that will survive 50 years from now."
Following allegations of influence peddling at the nation's largest public pension fund, CalPERS has revamped its governance policies, and its latest reforms are designed to help better manage risk and restore accountability.
The latest quarterly “flow of funds” report issued by the central bank reveals US corporate defined benefit and defined contribution plans had combined assets of $5.32 trillion as of June 30, a dip from three months prior.
Morgan Stanley lawyers have argued that shareholders had not shown legal standing to seek damages at trial and are seeking to dismiss their lawsuit, partly on grounds that the allegations were too vague.
New York-based Columbia's endowment rose 17% in the past year, outperforming major stock-market indexes as well as some other elite universities in the most recent fiscal year.
Consultants told the State Investment Council that New Jersey’s pension fund should direct as much as 43% of its assets into alternatives, compared with the 19.3% allowed now.
Bill White, the former president of the Intrepid Sea, Air and Space Museum, has agreed to pay $1 million to end the investigation of his role in funneling investments to the New York's Common Retirement fund.
California
Governor Arnold Schwarzenegger has dropped a proposal for the state's
pension fund to lend the state government $2 billion to help shrink its
budget gap.
A significant decrease in corporate bond interest rates has driven a $108 billion decrease in the funded status of the 100 large defined benefit plans tracked by Milliman.
