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Brexit The Culprit for $52 Billion Loss At World’s Largest Pension, Official Says

The Government Pension Investment Fund lost $52 billion (or, -4 percent) in the 2nd quarter of 2016. This week, GPIF’s President talked about the two factors he believes contributed most to the market conditions leading to the loss. From the Financial Times via CNBC: Norihiro Takahashi, the GPIF’s president, said that markets during the quarter ...

Canada’s Radical Pensions?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Mary Childs and John Authers of the Financial Times report, Canada quietly treads radical path on pensions: Half a decade ago, the top brass of New York City’s comptroller’s office hopped on a plane to learn ...

Beware Of The Big Bad Caisse?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. This comment is bilingual, so please bear with me as I will explain it below. At the end of June, Patricia Cloutier and Valerie Gaudreau of Le Soleil reported, Tous les régimes de retraite de Québec passent ...

Largest Illinois Pension Could Lower Discount Rate, But Rauner Doesn’t Want to Pay Up

The Illinois Teachers Retirement System could vote at this week’s board meeting to lower its assumed rate of return – an action that spurred a panicked memo from Gov. Rauner’s office. The discount rate, currently at 7.5 percent, could stand to be lowered to a more realistic number. But Rauner’s office doesn’t want to deal with the higher contributions ...

Disaster Strikes Dallas Police & Fire Pension?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Brett Shipp of WFAA reports, Dallas police, fire pension board facing disaster: The past month has been an emotional roller coaster for Dallas police and firemen. Thursday afternoon, the bad news continued. The ...

Court Pension Decision Weakens ‘California Rule’

Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. The one thing some pension reformers say is needed to cut the cost of unaffordable public pensions: give current workers a less costly retirement benefit for work done in the future, while ...

Canadian Pensions Unloading Vancouver RE?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Katia Dmitrieva of Bloomberg reports, Ontario Teachers’ Pension Plan seeking buyers for minority stake in $4-billion Vancouver real estate portfolio: The Ontario Teachers’ Pension Plan is seeking buyers ...

CalPERS Adopts 5-Year ESG Plan; Aims for Private Equity Transparency

The CalPERS board this week adopted a 5-year Environmental, Social and Governance (ESG) Strategic Plan, which includes points on private equity reporting, sustainable investment research and board diversity of companies in which CalPERS is a shareholder. Read the document here. On the private equity front, the plan aims to eventually have all of CalPERS’ ...

Bring In The UN Pension Peacekeepers?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Kambiz Foroohar of Bloomberg reports, UN’s $54 Billion Pension Fund in Power Struggle Over New Rules: The United Nations needs some financial peacekeepers. A dispute over whether new regulations governing ...
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Columbia, Four Other Schools Latest To Be Hit With ERISA Suits; Could Signal “Race to Courthouse”

The wave of ERISA lawsuits against top schools’ 401(k) and 403(b) plans continued rolling this week. The University of Pennsylvania, Johns Hopkins University, Vanderbilt University and Emory University were slapped with lawsuits early this week; more recently, Columbia University joined the fray on Wednesday. The Columbia suit was, notably, brought ...
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