Newsmakers
Scaramucci Becomes White House Communications Director
Press secretary Sean Spicer resigns in aftermath.
News
CalSTRS Generates 13.4% Return
The fund outperforms benchmark for first double-digit returns in three years.
A Sober Second Half for Institutional Investors
State Street’s Lori Heinel talks with CIO about a tempered global market outlook while health care debate stalls progress on tax code overhaul.
Mercer Report Warns of Future $137 Trillion US Savings Gap
Report cites empty promises from Social Security, DB programs as the cause.
Investors Press US SEC for Enhanced Human Capital Disclosures
Good corporate human capital management practices are associated with better financial performance.
Newsmakers
UK Moves Up Pension Age Change
New timetable sees pension age rise to 68 by 2037, seven years earlier than current legislation.
Newsmakers
Michigan Governor’s Task Force Proposes 4 Priority Reforms
Urges for better reporting and transparency, creation of local government pension/stress test system.
Newsmakers
Advocacy Groups Call for Funds to Divest from Owner of Trump SoHo Hotel
The legal groups claim investment money violates President Trump’s fixed salary mandate.
Emory University CIO to Retire
Mary Cahill to step down after more than 16 years in the role, and search for replacement is launched.
Multi-Asset ETF Portfolio Best Route for Smaller Endowments, Isenberg Professor Says
Cost to manage illiquid portfolio assets too high to justify, according to Hossein Kazemi.
Newsmakers
Ontario Teachers’ Buys Mémora Funeral Services Company
Deal also made with Ontario Municipal Retirement System’s infrastructure arm to sell British rail link.
Newsmakers
FedEx, Kroger to Contribute $1 Billion Each to DB Plans
FedEx’s 2017 pension contribution is more than triple that of 2015 and 2016 combined.
Illinois Gov. Rauner Can’t Legally Veto Pension Reform Bill, CPS Says
Governor demands Senate Bill 1 be placed on his desk immediately.
Risk
Kentucky’s Sen. Schickel Praised for Sticking to ‘CERS Divorce Bill’
The senator also says passing SB 226 could help the state’s police fund.
UK Pensions Could Benefit from Diversified Property Investments
Aon white paper says pensions shouldn’t focus solely on commercial property.