Newsmakers
Climate Change Risk a Threat to Scottish Pension Funds
Report says two of Scotland’s largest funds are not addressing climate change risks.
News
Public Pension Return Assumptions Fall to All-Time Low
Lowered projections could increase financial burden on state, local governments.
New CalPERS CIO Can’t Start Until January
Yu Ben Meng’s start date is being held up by the Chinese government, which could delay a vote on the launch of a $20 billion direct private equity investment organization.
Risk
Alaska Permanent Fund Increases 2.1% in First Fiscal 2019 Quarter
Private equity, infrastructure investments bring home the bacon while real estate takes a hit.
Pensions Account for 61% of Top 100 Asset Owners
Willis Towers Watson unit ranks the largest funds, with Japan’s Government Pension Investment Fund on top.
Five FTSE 100 Firms Pay More in Pension Contributions than Dividends
But most large companies still allocate far more to shareholder dividends.
Newsmakers
Textron’s Van Vleet to Be Next CIO Podcast Guest
Textron CIO talks LDI, public vs. private pensions, and how to set up your retirement.
Newsmakers
Dallas Pension Fund Sues Actuary for Malpractice
Police and firefighter pension alleges advisor failed to warn of deferred retirement risks.
Regulation
Citibank to Pay $38.8 Million for Improper Handling of ADRs
SEC alleges bank profited from ‘industry-wide fraud.’
CPPIB Ekes Out Small Q2 Returns
Exchange rates leave a 0.6% performance, despite strong showing in Canadian-denominated returns.
Exclusive: California Supreme Court Sets Oral Arguments on Public Pension Rights
The hearing on Dec. 5 will help determine if public workers’ pensions can be reduced and could have national implications.
Newsmakers
CalSTRS to Divest of Private Prison Companies
The two US companies running private prisons, whose detainees including immigrants caught crossing the US-Mexico border, will no longer be part of the CalSTRS portfolio.
Corporate Moves
Malaysia’s KWAP Gets a New Chief
Syed Hamadah Othman replaces Dato' Wan Kamaruzaman Wan Ahmad as the $33.9 billion outlet’s next CEO.
Manager Selection
Kentucky Pension System Seeks New CIO
The organization wants a permanent chief to replace David Peden, who left two years ago.
CalPERS Can’t Find Enough Private Equity Commitments
CalPERS consultant finds without a huge increase in new private equity commitments, the fund will see a declining allocation to the asset class.