All Stories

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 ...

Sabia Defends Caisse’s REM Project?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Michael Sabia, president and CEO of la Caisse de dépôt et placement du Québec, wrote an op-ed for all the major Quebec newspapers including the Montreal Gazette, REM electric train: A Montreal of the possible: There’s ...

Staff: CalPERS Shouldn’t Pull Out From Dakota Access Pipeline

California lawmakers are pushing CalPERS to divest from the controversial Dakota Access Pipeline, but pension fund staff have balked at that recommendation, arguing that the country’s largest pension fund can more effectively engage with companies if it remains a shareholder. This is the latest instance of the ongoing debate over divestment at ...

bcIMC Acquires European Credit Fund?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Kirk Falconer of PE Hub Network reports, bcIMC to acquire European credit business Hayfin from PE owners: Hayfin Capital Management LLP, a European private debt investment firm, has agreed to be acquired by ...

CalSTRS Votes to Lower Discount Rate

CalSTRS, which previously assumed a 7.5 percent rate of return on investments, on Wednesday voted to lower its discount rate in two stages: first to 7.25 percent, then to 7 percent by 2018. From the LA Times: Board members, faced with a widening gap between investment returns and expectations, said they took action to lessen the likelihood that existing ...

New York Pension Fired Second Employee Linked to Pay-to-Play Scandal

The New York Common Retirement Fund in December fired a second employee — Philip Hanna — in connection with the pay-to-play scandal in which the fund’s fixed income director took bribes in exchange for commitments to two brokers, according to a new report from the Wall Street Journal. Hannah — who hasn’t been accused of ...

The Big Push To Insource Pension Assets?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Back in early December, Aliya Ram of the FT reported, Danish pension fund halves outsourced money: Denmark’s biggest pension fund has halved the amount of money it outsources to external asset managers over ...

Cleveland Iron Workers Vote to Cut Their Pensions

For the first time under the Multiemployer Pension Reform Act, pension fund members have voted to cut their own pension benefits in order to maintain the solvency of the fund. The Iron Workers Local 17 pension fund was the first to have its benefit cut proposal approved by the Treasury back in December; other pension funds have submitted proposals for ...
Privacy Policy | © 2017 Pension360 and © 2014 Policy Data Institute | Site Admin · Entries RSS ·