Credit: Cornerstone report

Class Action Suits Led By Pensions Rise For 3rd Straight Year: Report

The percentage of class action lawsuits with pension funds as lead plaintiffs has risen for the third consecutive year, according to Cornerstone Research. The report analyzed trends in class action lawsuits in 2016; a few tidbits on institutional investors: View the full report here.

NJ Poised To Spin Off Investment Management for Public Safety Pension

New Jersey currently places the assets of all its pension systems in a $71 billion pool, which is managed by the State Investment Council. But that could change this week. A bill in the state legislature, which has gained bi-partisan support thus far, would spin off the investment management of the assets of the Police and Firemen’s Retirement System. Public ...
japan tokyo

World’s Largest Pension Posts Record-Breaking Quarter

Japan’s Government Pension Investment Fund (GPIF) — the world’s largest pension fund — posted a $92 billion gain in the 4th quarter of 2016, fund officials said on Thursday. The gain — 8 percent — is the largest quarterly return in the history of Japanese pension investing, in terms of dollar amount. And it comes ...

Illinois Teachers’ Pension Commits $140m to Emerging Managers

The Illinois Teacher Retirement System this week said it will commit $140 million to two emerging managers, nearly doubling the amount of money the fund had previously committed to emerging manager real estate funds. The funds are Oak Street Capital and Exeter Property Group — the latter of which is already oversubscribed. TRS will be jockeying ...

CalPERS, Other Investors Want Dakota Access Pipeline Rerouted

CaPERS and a consortium of other investors last week called on the banks financing the Dakota Access Pipeline to address local tribes’ concerns around the route and safety of the project. Earlier in the week, protestors had camped in front of the CalPERS building, calling for the powerful investor to divest from the pipeline. CalPERS’ stance ...

CalPERS Looks Long-Term As New Allocation Shelters Portfolio From Market Highs

CalPERS’ allocation changes in the final months of 2016 have caused the pension fund to miss out on $900 million in potential investment return, according to remarks made by the CIO at a board meeting on Monday. The pension fund moved away from stocks and private equity in September, opting for a less volatile asset allocation that is project ...

Canada Pension CEO Keeping “Close Eye” on Trump Infrastructure Plan

The Canada Pension Plan Investment Board is one of the world’s largest infrastructure investors, and CEO Mark Machin told Reuters his fund is paying close attention to U.S. President Donald Trump’s as-yet-unreleased infrastructure plan. Though details are scarce, Trump has said he plans to roll out a $1 trillion U.S. infrastructure program. ...

Problem With Hedge Funds Is They Forgot How to Hedge, Says $200B Danish Investor

The CIO of Danika, the $200 billion wealth management arm of Danske Bank A/S, doesn’t see hedge funds as part of his portfolio in the near future. The reason? Hedge funds have forgotten how to hedge. But he’s still open to investing in the right funds. More comments from Anders Svennesen, via Bloomberg: “If you look back over time, there ...

CalPERS Expects 5.8 Percent Return With New, Less Volatile Allocation: Report

CalPERS expects to see an annual return of 5.8 percent under its new, more cautious allocation strategy, according to documents posted online by the pension fund this week. The pension fund implemented the new allocation in September in anticipation of slower market growth over the next few years. Notably, the expected return figure falls short of both ...

Pennsylvania SERS to Shutter Overseas REIT Strategy; Change Benchmark

The Pennsylvania State Employees’ Retirement System will soon stop investing in international REITs, and will shift that money toward domestic strategies, according to IPE Real Estate. The pension fund is also changing the benchmark index by which its measures its $2.4 billion real estate portfolio. More from IPE: Pennsylvania State Employees’ Retirement ...
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