Pensions
Swiss Pension Fund Publica Lost 9.6% in 2022
The $47.8 billion fund, which still outperformed its benchmark, blamed the decline on ‘massive upheaval’ of global financial markets.
News
Newsmakers
25 States and 3 Fossil Fuel Industry Actors Sue to Block DOL Rule Permitting ESG Investing
The lawsuit seeks an injunction against the rule, set to take effect Monday, which would allow ESG considerations in retirement plan investment decisions.
Regulation
PBGC Bails Out 2 Construction Pension Funds
Pension plans for ironworkers in Alaska and plasterers in Oregon will receive assistance.
Manager Selection
International Paper Promotes Tusch to Oversee Pension and Savings Plans
Current Deputy CIO Carol Tusch is replacing Bob Hunkeler, who will retire at the end of the quarter after leading the investment office of International Paper for 26 years.
Manager Selection
Pitcairn Family Office Names Sonnenberg as New CIO
Former CIO Rick Pitcairn moves into a newly created global strategy role.
Pensions
JPM: Reopen Corporate DB Plans or Stop Closing and Freezing Them
Sponsors no longer need to block new workers from defined benefit pensions, as the programs are an advantage, says a study.
Newsmakers
NYC Pension Funds Call for Greenhouse Gas Disclosure From 4 Major Banks
Shareholder proposals have been filed with Bank of America, Goldman Sachs, JPMorgan Chase and Royal Bank of Canada.
Regulation
SEC Targets Conflicts of Interest in Asset-Backed Securities in New Proposal
If adopted, the proposal would prohibit transactions that allow asset-backed issuers to benefit from an adverse event affecting the security.
Regulation
No Smoke and Mirrors Here: Good ESG Ratings Help Stock Prices, Bad Grades Hurt Them
In the culture wars’ latest front, how sustainable principles affect equities is a burning topic addressed in a recent research study.
Newsmakers
State & Municipal Treasurers Publish Letter Encouraging McCarthy to Make Deal on Federal Debt Ceiling
They say a default would be ‘catastrophic’ and devalue portfolios, damaging pension funds and 401(k) plans.
Research
ESG Themes to Be Aware of in 2023
Top concerns for ESG investing in 2023 include net-zero emissions targets, employee well-being and data scarcity, according to one annual global outlook.
Research
Ash Williams: Passive Investing’s Use Is an ‘Illusion’ That’s Now Dispelled
It’s a creature of another time, and active management is needed for today’s challenges, the investment legend argues.
Research
OCIO Industry Set for Strong Growth, Alts Expansion
One out of four asset owners expect to use an outsourced chief investment officer in the next two years, says report.
Risk
IPOs: Off to a Poor Start as 2023 Kicks Off
A mere 15 offerings have been filed thus far, fewer than in previous years.
Pensions
Tata Steel Expects to Complete British Steel Pension Buy-In by Mid-2023
Trustee secures third buy-in policy for $2.5 billion worth of liabilities.