A study commissioned by Comptroller John C. Liu predicts that New York City’s pension costs will peak in 2016 before they begin a gradual, steady decline, yet Mayor Mike Bloomberg sees major flaws in the report.
The National Pension Service (NPS), the world's fourth-largest pension fund with around $314 billion of assets, has revealed plans to increase its allocation to stocks while cutting exposure to bonds, seeking higher returns for its aging society.
Insurance company assets managed by third-party US investment firms rose to a record $1.75 trillion at the end of 2010, with BlackRock and Deutsche leading the rankings.
New York State Comptroller Thomas P. DiNapoli has proposed legislation to codify his ban on the involvement of placement agents, paid intermediaries and registered lobbyists in investments with the Common Retirement Fund (CRF).
Citigroup has reportedly shuttered its $400 million Quantitative Strategies hedge fund, which uses the bank's own cash to bet on stocks, according to Bloomberg News.
California Treasurer Bill Lockyer has sent letters to the state’s public pension funds to develop policies for full disclosure of corporate political spending.
A new report by the National Endowment for Science, Technology and the Arts (NESTA) has found that the gap between US and UK venture capital funds has narrowed over the last decade.
Consultancy Aon Hewitt cautions that while the pensions deficit for the UK’s largest companies remained stable in May, major changes to accounting standards could increase shortfalls by £10 billion.
The chief investment officer of the Massachusetts Pension Reserves Investment Management (MassPRIM) board says it has hired foreign-exchange transaction cost consultant FX Transparency to analyze the state system’s currency trades for 2009 and 2010.
Institutional investors are taking far longer to change investment managers or asset allocations than they did before the 2008 financial crisis, a study by Mellon Transition Management (MTM) shows.
