Newsmakers
Illinois Senate Rejects Gov. Rauner’s Veto in 38-19 Override
Pension reform bill now goes to Illinois House, requires three-fifths majority vote.
News
CalPERS $100K Pension Club up 63% Since 2012, Watchdog Says
Transparent California’s report notes more than 850 six-figure CalPERS retirees in Santa Clara County.
CalPERS still analyzing data.
Newsmakers
Canada’s Largest Pension Fund Hits $326.5 Billion at Q1 Fiscal 2018
“Significant uplift” from global equity markets, strengthening Canadian dollar.
Research
Post-Brexit UK Sees Stunt in Private Equity Real Estate Deal Flow
Recent months show improvement as industry recovers.
Castlelake and Perpetual Joint Venture to Invest in Oil and Gas
The Energy Information Administration reports that the US will likely emerge a net exporter of natural gas next year.
Breaking News: Tata Steel Signs RAA to Detach Pension
British Steel Pension Scheme will receive £550 million and 33% equity stake in company.
Research
Oxford University Endowment Returns 16.4% for 2016
Fund cited active management as major contributor to strong returns.
Tata Steel Nearing Divorce from Pension
Deal to separate its pension plan from its business is imminent.
Newsmakers
Comptroller Stringer Responds to Reports that Wells Fargo’s Sanger Will Step Down
In the wake of an auto insurance scandal, Stringer feels the board has more work to do.
C.A.R. Objects to Freddie Mac’s Plans to Guarantee Single-Family Rentals
The GSE is looking into providing financing for investors interested in buying single-family homes to provide affordable rentals.
PA SERS Praised by Dept. of Auditor General After Year-Long Investigation
Policies lauded for governance, portfolio management.
Research
Mercer: S&P 1500 Pensions 83% Funded in July
Interest rates still “40 basis points above 2016 lows.”
Northstar Aerospace Workers Occupy Plant Over Pension Cuts
Union says workers could face a 24% reduction to their income.
Newsmakers
Kentucky Gov. Hints Tax Reform May Take Back Seat to Pension Issues
Tells WEKU he must “focus first on the pension issue.”
Newsmakers
SMUD to Power 50% of CalPERS Electricity Via SolarShares Program
20-year agreement to help demonstrate the program’s greenhouse gas reduction opportunities, cost-effectiveness.