Newsmakers
Indiana Amends ESG Bill to Exclude Private Markets
Changes mean legislation will cost state pension fund $5.5 million over 10 years instead of $6.7 billion.
News
Newsmakers
Australia Seeks Public Consultation on Pension Legislation
Former government accused of raiding superannuation system ‘with devastating impacts’ on savings.
Regulation
The ESG Lawsuits Continue
This one, brought in Wisconsin, alleges that the DOL’s rule on ESG unlawfully compromises Americans’ retirement.
Manager Selection
Patricia Ribeiro Promoted to Co-CIO of Global Growth Equity at American Century Investments
Ribeiro will serve as co-CIO of global growth equity discipline and will share the role until May 31 with Keith Creveling, until he moves into a portfolio management role.
Manager Selection
Lazard Promotes Larry Cohen to Global Head of Technology & Operations
Cohen joined the firm in August as a strategic adviser.
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.
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.