Regulation
No Recommendations Yet From the Labor Department on PRT Provider Selection
The department published its overdue report on the rules for selecting an annuity provider, but put off making any changes.
News
Newsmakers
The California Endowment Appoints Kelli Washington as New CIO
The new investment chief of the $4 billion endowment comes from Cleveland Clinic.
Asset Allocation
Gap Narrowing Between Infrastructure Investments and Allocation Targets
Institutional asset owners are closing in on their infrastructure target allocations, research from Hodes Weill & Associates and Cornell finds.
Asset Allocation
Sovereign Wealth Funds Shift Into More Tech and Green Energy
The SWFs also are pushing more into real estate as valuations drop, report says.
Manager Selection
Iowa Pension Recommends 9 New Managers for Real Assets Portfolio
IPERS plans to make $500 million in real assets commitments in 2024.
Regulation
PBGC Rescues 5 Multiemployer Pension Funds Covering 200,000 Workers and Retirees
The grants totaled nearly $6 billion in value.
Manager Selection
Illinois Teachers’ Pension to Prioritize Liquidity, Volatility Protection in New Asset Allocation Plan
The fund also made up to $570 million in commitments to new and existing managers.
Regulation
IRS Announces Intent to Close Basis-Shifting Tax Loopholes
The IRS and Treasury say the changes could raise about $50 billion over 10 years.
Research
Why REITs Return More Than Directly Owned Properties
For allocators, real estate investment trusts, which boast higher liquidity, come out ahead across the board, a CEM Benchmarking study finds.
Newsmakers
Australia’s National Reconstruction Fund Appoints its First CIO
Mary Manning will lead the investment strategy of the fund, starting in July.
Asset Allocation
NBIM Takes Stake in UK-Based Offshore Wind Project
The 37.5% stake in ’Race Bank’ is worth $419 million.
Pensions
Penn SERS Adjusts Asset Allocation Targets, Makes New Commitments
The fund will decrease its emerging equities exposure target for US equities as it reports a 3.81% return in the first quarter.
Opinion
Identify Risk and Opportunity Through Sustainability Data
Enhance investment analysis by integrating ESG performance scores and key issue data.
Corporate Moves
Vanguard Reopens Two Actively Managed Funds to All Investors
The Primecap and Primecap Core funds were closed to new investors in 2004 and 2009, respectively.
Pensions
Public Pension Funded Status Reached 79.4% in May
Funded status of the largest 100 US public pensions increased from strong market returns.