Newsmakers
Royal Bank of Scotland to Make $5 Billion in Pension Contributions
CFO calls decision an ‘an important milestone.’
News
Regulation
Colorado House Amends Pension Bill
Four-plus hour debate leaves Democratic, Republican leaders equally dissatisfied with reform.
UK Corporate DB Plans’ Deficit Soars 60% in March
Despite the sharp rise, the aggregate deficit is down 29% from 2017.
CalPERS Invests $1B in ESG Global Equity Portfolio
Another $260 million invested in synthetic equity portfolio.
CalPERS to Discuss Alternatives to Board Diversity Proposal
Treasurer’s initial proposal of 30% diverse dismissed as ‘arbitrary and limiting.’
Regulation
First KY Pension Hearing Scheduled for Thursday
AG Beshear vows to ‘argue as hard as I can every single hearing to have this bill thrown out.’
Asset Allocation
Malaysia’s Largest Pension Fund to Sell Columbia Asia Stake
Fund targets 4% global assets increase.
Corporate, Public Pensions’ Futures Diverge
Report finds pubic pensions are hunkering down as corporate pensions are winding down.
Corporate Moves
Top CalPERS Official to Retire
Curtis Ishii to end 40-year tenure in July; Arnie Phillips is named interim fixed income director.
Newsmakers
N.J. Seeks Retirees Owed Money by MetLife
More than 1,000 residents were not paid because the company said it couldn’t find them.
UCU Members Accept UUK Offer
Although strikes are now suspended, legal mandates will stay live until pension scheme recognizes agreement.
US State Pension System Deficit Hits Record High in 2016
Report suggests states assume annual returns of 6.5% for the next decade.
Corporate Moves
CalPERS Names ABB’s Elisabeth Bourqui Chief Operating Investment Officer
ABB’s multi-asset pension portfolio achieved a total return of 24.63% over the last four years.
CalPERS Likely to Reject Diversity Engagement Targets
State treasurer requested fund define a diverse board as at least 30% women.
Asset Allocation
Denmark’s PKA Fund Cuts 35 Oil Companies
Pension plan CEO says automotive industry is next.