Newsmakers
David Okamoto Appointed CIO of Hawaii Health Benefits Fund
The 2023 NextGen honoree moves from the Hawaii Employee Retirement System.
News
Pensions
Illinois Police Fund Announces Search for Active Bank Loan Strategy Managers
The IPOPIF wants to add exposure to the bank loan strategy asset class.
Regulation
SEC’s Birdthistle Defends AI Proposal at House Hearing
The director of investment management said the definition of covered technology is not as broad as many fear, but that the SEC is taking comments on the proposal’s scope seriously.
Pensions
Milliman Sees Public Pension Funding Ratios Decline to 75.3% in August
Poor performance in equities was to blame for the dip in pension funding levels.
Asset Allocation
Markets Trend Positively for Investors, but Uncertainty Remains
New data and economic forecasts predict a soft landing, but investors may need help navigating higher inflation and hard-to-predict costs.
Asset Allocation
Global Equities Rebound Propels NZ Super to 11.87% Return
The pension fund’s asset value increased by NZ$9.7 billion to NZ$65.4 billion during the fiscal year that ended June 30.
Corporate Moves
BNP Paribas Hires Scott Carter as Global Head of Investor Coverage
Carter previously worked at AQR Capital Management and Deutsche Bank.
Regulation
SECURE 2.0 Allows More Pension Funds to Transfer Money to Health Plans
But the transfers are small and to a rarely offered account type, which means not many plans are taking advantage.
Regulation
Private Equity Firm to Pay $20.5M to Settle SEC Charges of Inadequate Fee Disclosure
Prime Group allegedly did not disclose that $18 million in fund fees went to a firm wholly owned by its CEO.
Pensions
Netherlands Leads Europe in Green Bonds, While Dutch Pensions Cut Asia Investments in 2022
Dutch pension funds’ assets in Asia have declined by nearly 28 billion euros since the end of 2021.
Pensions
Pension Giants Lost $3T in 2022, Steepest Drop in 20 Years
Despite losses, the 300 largest funds’ share of global pension assets rose to 43% in 2021.
Tom Steyer Closes $1B Climate Fund
The Innovation + Expansion Fund from Galvanize Climate Solutions will invest in climate startups.
Corporate Moves
CalPERS CIO Nicole Musicco Will Step Down
Musicco cites family needs as the reason for her departure; the fund’s deputy CIO will serve as interim head.
Opinion
PBGC Premiums and Washington’s Fuzzy Math
Billions that Congress counts as revenue are contributing to the demise of traditional pension funds.
Asset Allocation
New York State Pension Cashes Out of $2.1B Public Equity Fund
The $254.1 billion pension giant also committed nearly $1 billion in July to a pair of investments within its credit portfolio.