Pensions
Ohio STRS Loses 9.52% in 2022, Board Rejects Neville Vote of Confidence
Despite loss, the $89 billion investment portfolio outperforms it benchmark by 138 basis points.
News Archive: Feb - 2023
Manager Selection
CPPIB Names Jon Webster COO
Canadian pension giant also taps Maximilian Biagosch as global head of real assets.
Pensions
CalSTRS Cites Funding Status, Net Zero Progress, and DEI in Sustainability Report
Sustainability report highlights progress on topics including funding; the path to net zero; sustainable operations; and diversity, equity and inclusion.
Newsmakers
Sequoia Capital, Thoma Bravo, Paradigm Sued for Touting FTX
Investment firms allegedly made ‘deceptive and misleading statements’ to promote the failed crypto exchange.
Regulation
PBGC Provides Supplemental Assistance to 4 Struggling Pensions
Four multiemployer pension plans received supplemental assistance from PBGC under the final rule.
Asset Allocation
New York State Comptroller Files Diversity Proposals
Thomas DiNapoli is calling for more accountability from portfolio firms regarding corporate diversity, equity and inclusion.
Regulation
New Bill Would Tax Individual Investors to Extend Social Security Solvency
Bill from Senators Sanders and Warren aims to make Social Security solvent for 75 years and to increase benefits, especially for lower-income workers and retirees.
News
Global Pension Assets Tumbled 17% in 2022, Worst Fall Since 2008
Simultaneous drops for stocks and bonds hit plans in the U.S. and around the world after a long, steady rise, WTW says.
Research
Private Equity, Venture Capital Outpace Public Equities in 2022 Higher Education Endowments
Despite negative investment performance and a drop in asset values in 2022, endowments provided $25.85 billion in financial support in fiscal 2022, a NACUBO-TIAA study found.
Regulation
SEC Adopts T+1 Settlement Cycle
In addition to shortening the settlement cycle, the rules will improve the processing of institutional trades, regulator says.
Newsmakers
CalPERS Equity Portfolio Edges Out S&P 500 Returns in Q4 2022
CalPERS’ equity portfolio returned 7.92% in the fourth quarter of 2022, eclipsing the S&P 500 performance by 84 basis points.
Pensions
New York Common Retirement Fund Cuts Public Equities in Favor of Alts
The $242 billion pension giant reported a robust 4.51% investment return in Q3 of its fiscal year.
Manager Selection
Corebridge Financial Names Prudential’s Longino CIO
The former head of Prudential’s global investment strategy will oversee the AIG spin-off’s investment portfolio.
Asset Allocation
Harvard Endowment Reports on Its Net-Zero Progress
The fund, pledging to hit the goal by 2050 for its investments, has at least gotten there in its own physical operations.
Asset Allocation
Kentucky Retirement System Trustees Say It Is Not Subject to State’s Anti-ESG Law
The board of the County Employees Retirement System informed Kentucky’s treasurer that the 2022 law conflicts with CERS’ fiduciary duties.