Asset Allocation
New York State Comptroller Files Diversity Proposals
Thomas DiNapoli is calling for more accountability from portfolio firms regarding corporate diversity, equity and inclusion.
Tag: New York
Pensions
New York Common Retirement Fund Cuts Public Equities in Favor of Alts
The $242 billion pension giant reported a robust 4.51% investment return in Q3 of its fiscal year.
Newsmakers
New York State Comptroller Calls for Political Spending Disclosures
Thomas DiNapoli files shareholder proposals with nine companies held in the state pension fund’s $233.2 billion portfolio.
Asset Allocation
NY State Pension Returns 9.5% in FY 2022, While NYC Pensions Lose 8.65%
New York State Common Retirement Fund benefits from having a fiscal year that ended before the second-quarter market slump.
Asset Allocation
U.S. Pension Funds Scramble to Figure Out What to Do With Russian Investments
Colorado has already divested from its Russian investments, while CalPERS, CalSTRS and others mull their options.
Regulation
Pacific Life Fined for Unlicensed Pension Risk Transfers in New York
The insurance firm will pay a $3 million fine for unauthorized PRT business conducted in the state.
Risk
Wall Street Job Losses Surge Despite Profits Near Record Highs
The securities industry workforce in New York City is expected to decline by nearly 50% more than it did in 2020.
Pensions
NY State Assembly Passes Mandatory Auto-IRA Bill
The amended ‘Secure Choice’ program would apply to companies with 10 or more employees.
NY Attorney General Seeks to Shut Down Cryptocurrency Trading Platform
Coinseed is accused of ‘depleting accounts,’ and transferring funds to an offshore, unregulated platform.
Pensions
NYC Council Passes IRA Auto-Enrollment Bills
The legislation would establish a mandatory retirement savings program and a board to oversee it.
Asset Management Culture
New York City Comptroller: Ax Rule Forcing Private Equity to Pay Legal Bills
Mandate now forces PE operators to cover their own litigation tabs in disputes, instead of passing along the costs to NYC pension fund investors.
Asset Allocation
New York State Pension Fund Returns 6.2%
The state retirement system broadly outperformed US pension funds in the third quarter.
Alternatives
New York State Pension Doubles Down on Alternatives
C-band spectrum, collateralized loan obligations, and solar and wind power are among the largest allocations the fund made in September.
Pensions
Conservative Think Tank Calls for NYC Pension Reform
Manhattan Institute recommends moving to defined contribution plans and consolidating funds.
Corporate Moves
New York Times Makes $235 Million Pension Risk Transfer to MassMutual
About 1,850 affected retirees will continue to receive payments from the life insurer.