Pensions
Voting Support for NYC Pension Proxy Proposals Continues to Wane
Only 21% of proposals that went to a vote were supported by shareholders, down from 35% in 2022.
News
Pensions
Weyerhaeuser, State Street Sued in PRT Lawsuit
Timberland company sued by former employees, represented by Schlichter Bogard LLP, over a pension risk transfer it conducted with Athene in 2019.
Pensions
US Pension Plans Set to Increase Contributions in 2025
Approximately 58% of plans saw an increase in funded status, while 68% expect to increase contributions.
Newsmakers
Con Michalakis Joins Funds SA as CIO
Michalakis will leave his deputy CIO role at Hostplus and start at the South Australia investment manager in February 2025.
Pensions
Maryland Pension to Add Climate Advisory Panel
The board of the Maryland State Retirement and Penson System seeks three outside experts to assist the fund in achieving a sustainable portfolio.
Pensions
Illinois Police Fund Finishes Consolidation of Local Pensions
The 14th and final tranche of asset transfers was valued at $1.6 billion, bringing IPOPIF assets to $12.9 billion.
Manager Selection
Indiana Fund Narrows Finalists to Replace BlackRock
Under state law, the pension fund is required to replace service providers if they are determined to have made ESG commitments.
Corporate Moves
Northern Trust Signs Deal in Singapore to Work On Tokenizing Green Assets
The agreement with the National University of Singapore aims to support sustainable investing and blockchain technology.
Asset Allocation
Funds Are ‘Getting Back to Basics,’ Refocusing on Long-Term Returns
Pension and sovereign wealth funds are prioritizing returns over liquidity, according to the OMFIF’s annual review.
Risk
Structured Alpha Manager Settlement Offers Due Diligence Lessons
Investors need to ask about managers’ controls and for ‘evidence’ they are being used, consultant says.
Leech Pleads Not Guilty in WAMCO Cherry-Picking Probe
The former Western Asset Management Co. co-CIO is accused of making favorable trades for some clients at the expense of others.
Asset Allocation
BlackRock Identifies 1% to 2% as Optimal Bitcoin Allocation
Institutional adoption of the digital asset can dampen its volatility, according to a paper from the asset manager.
Regulation
Cantor Fitzgerald Settles SEC Charges Over Misleading SPAC Disclosures
The firm will pay a $6.8 million fine for allegedly making false statements in regulatory filings.
Asset Allocation
Ardian, Saudi PIF Complete $4.2B Acquisitions of Stake in Heathrow Airport
The two investors purchased interests in FGP TopCo, with Ardian taking a 22.6% stake and the PIF a 15% cut.
Pensions
PBGC Provides $29.3M to Teamsters Local 11 Pension Plan
The New Jersey-based transportation workers pension fund is in critical status, according to the Pension Benefit Guaranty Corporation.