In the first suit by the Securities and Exchange Commission (SEC) against a state for securities fraud, the regulator claimed that when New Jersey issued $26 billion in bonds between 2001 and 2007, it fraudulently and erroneously portrayed its pension funds as adequately funded.
While more investors are looking to invest in the asset class, many are questioning whether the management fees and fund carry structure of private equity are appropriate.
Seeking to benefit from rising housing demand in the world's fastest-growing regions, the asset manager for Netherlands' largest pension fund will increase property investments in Asia.
As pension funds face intense scrutiny and speculation for improper influence of board members and execs, lawmakers have been considering disclosure for California's pension boards.
Connecticut will carry out an asset allocation and liability study for each of its six state pension funds, while the Montana Board of Investments has commissioned an asset-liability study for the $2.5 billion Montana Teachers' Retirement System.
After the Sun-Times and its units filed for bankruptcy protection in March 2009, the company sold nearly all of its assets -- PBGC has stepped in to assume responsibility.
The $300 million pension has sued Hewlett-Packard and its former
Chief Executive Mark Hurd, who was ousted from the company after a
sexual-harassment-claim settlement, seeking a variety of governance
changes and punitive damages for breach of fiduciary duty, mismanagement
and waste of corporate assets, including the severance payment to Hurd.
Hedge fund managers, which now account for one-fifth of all trading volume in the US Treasury bond market, are refocusing their attention on more liquid products, a new study by Greenwich Associates confirms.
The Government Pension Fund Global returned -5.4% (-155 billion kroner) in the second quarter of 2010, weighted down by a decline in global equity markets.
Citing the scandal in the city of Bell, California Treasurer Bill Lockyer asked the state's largest pension to release data on the 100 highest state and local government salaries to avoid pay abuses.
