Pennsylvania Auditor General Urges State Pensions to Pull Back From Hedge Funds, “Dramatically” Reduce Risk

Pennsylvania Auditor General Eugene DePasquale has been vocal in the past about his desire for the state’s pension systems to decrease their allocations to hedge funds. He doubled-down and expanded on that stance Thursday, saying the state-level pension funds’ risk appetite needs to be “dramatically pulled back”. He also called on the pension systems to … Continue reading Pennsylvania Auditor General Urges State Pensions to Pull Back From Hedge Funds, “Dramatically” Reduce Risk

Pennsylvania Pension Chairman Defends Hedge Funds; Says “Strategy Is Working”

Pennsylvania’s top auditor has publicly wondered whether Pennsylvania’s State Employees Retirement System (SERS) should be investing in hedge funds. SERS has released formal statements defending their investment strategy, which currently allocates 6.2 percent of assets toward hedge funds. But today, we got the pension fund’s most in-depth defense yet of the asset class. Glenn E. … Continue reading Pennsylvania Pension Chairman Defends Hedge Funds; Says “Strategy Is Working”

Patriot News: Are Hedge Funds Right For Pennsylvania?

Last week Pennsylvania’s auditor general publicly wondered whether hedge funds were a sound investment for the state’s “already stressed” pension systems. The crux of the auditor’s concern was the millions in fees paid by the system. In an editorial Monday, the Patriot News also questioned the fees incurred by hedge fund investments – including the … Continue reading Patriot News: Are Hedge Funds Right For Pennsylvania?

Pennsylvania Not Cutting Hedge Funds Despite State Auditor’s Skepticism

CalPERS’ decision to pull out of hedge funds is having a ripple effect across the country. On Wednesday, Pennsylvania Auditor General Eugene DePasquale released this skeptical statement on the state pension system’s hedge fund investments: “Hedge fund investments may be an appropriate strategy for certain investors and I trust that SERS and PSERS weigh investment … Continue reading Pennsylvania Not Cutting Hedge Funds Despite State Auditor’s Skepticism

Read the Full List of Pennsylvania Auditor’s Pension Recommendations

Earlier this week, Pennsylvania’s Auditor General turned in his recommendations to Gov. Tom Wolf for improving the funding of the state’s municipal pension systems. Auditor General Eugene DePasquale was the head of a panel tasked with sketching out the funding solutions and recommendations. Now, the report has been released in full and we can see … Continue reading Read the Full List of Pennsylvania Auditor’s Pension Recommendations

Are State Pensions Failing to Deliver?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Rupert Hargreaves of ValueWalk reports, State Pension Funds Take On More Risk, Higher Fees For Worse Returns: State and locally run retirement systems are increasingly turning to alternative and complex investments to help boost returns … Continue reading Are State Pensions Failing to Deliver?

Harvard’s Endowment Adopts Yale’s Model?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Alvin Powell of the Harvard Gazette reports, Course change for Harvard Management Company: Explaining that challenging investment times demand “we adapt to succeed,” the new head of the Harvard Management Company (HMC) announced sweeping internal … Continue reading Harvard’s Endowment Adopts Yale’s Model?

All Roads Lead to Dallas?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Jonathan Rochford, portfolio manager at Narrow Road Capital, wrote a guest comment for ValueWalk, The Dallas Pension Fiasco Is Just the Beginning (h/t, Jim Leech): The recent blow-up of the Dallas Police and Fire Pension … Continue reading All Roads Lead to Dallas?

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 the $54 billion UN Joint … Continue reading Bring In The UN Pension Peacekeepers?

Fixing The U.S. Public Pension Crisis?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Attracta Mooney of the Financial Times reports, The US public pensions crisis ‘is really hard to fix’: Eighteen months after Rahm Emanuel, a former White House chief of staff, became mayor of Chicago, he addressed … Continue reading Fixing The U.S. Public Pension Crisis?