Brexit Won’t Scare Off Pension Funds

Institutional investors will still be hunting for deals in Britain, even as its exit from the EU begins in earnest. The Ontario Teachers’ Pension Plan is one such investor scouring the country for deals. The pension fund previously managed to shelter itself against Brexit by significantly hedging its exposure to the British Pound in the weeks ...

Lawmakers Target Auto-IRAs; California Will Push Back

Republican lawmakers in Washington have set their sights on dismantling state-level auto-IRA programs, such as California’s Secure Choice and similar programs in five states. Under the Obama administration, the Department of Labor passed rules solidifying states and cities’ authority to create such programs. In a party-line vote last month, ...

“I’m Torn”: Supreme Court Grapples With Hospital Pension Protections, Or Lack Thereof

The Supreme Court is struggling with the question of whether faith-affiliated hospitals should be exempt from federal rules protecting pension benefits for workers. The ruling could affect up to a million workers’ retirement security. Three church-affiliated hospitals are being sued for underfunding their respective pension systems; federal law ...

Iowa Pension Cuts Investment Target

The Iowa Public Employees’ Retirement System law week slashed its assumed rate of return from 7.5 percent to 7 percent, following in the footsteps of CalPERS’ similar move from December. The assumption was reduced in order to achieve a “more accurate valuation of future liabilities”, according to the system’s Board. From ...

Chicago Pension Bill Vetoed By Illinois Gov. Rauner

Illinois Gov. Bruce Rauner vetoed a bill last week that would have raised contribution rates and lowered the retirement age for members of Chicago’s Municipal and Laborer’s pension funds. Chicago Mayor Rahm Emanuel had been pushing hard for the bill. More from CBS: The Illinois Governor vetoed help for Chicago’s Municipal and Laborer’s pension ...
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 ...
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