Pension Pulse: Diving Deeper Into Caisse’s Big 2014

The median U.S. public pension fund returned 6.8 percent in 2014. But north of the border, one of Canada’s largest public funds blew that figure away. Caisse de depot et Placement du Quebec, Canada’s second-largest pension fund, posted investment returns of 12 percent in 2014, nearly doubling the returns of its U.S. peers. Over at Pension Pulse, ...
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New Orleans Pension Considers Index Investing After 2014 Performance Lags

The New Orleans Municipal Employees Retirement System returned less than 5 percent in 2014, a number that is pushing some board members – including the city’s finance director – to consider a more passive investment strategy. Trustee and city finance director Norman Foster argued this week that the fund should be investing in funds that passively ...

Leo Kolivakis on Paying Pension Executives

This week, the Financial Times released a list of the highest-paid pension CEOs, and interviewed observers from several corners who criticized the high compensation totals. On Wednesday, Leo Kolivakis of Pension Pulse weighed in on pension executive pay in an extensive piece. The post is re-printed below. _____________________________________  By ...

Benchmarks, Transparency Could Bring More Pension Funds to Infrastructure, Says Group

The European Association of Paritarian Institutions (AEIP) last week called for greater transparency and more performance data in the infrastructure sector. These changes, according to the AEIP, could help attract more pension funds to the sector. From Investments and Pensions Europe: Infrastructure markets need to be more transparent, with greater ...
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Public Pension Hedge Fund Portfolio Returns vs. Benchmarks in 2014

Here’s a chart listing the strongest-performing hedge fund portfolios over the 12 month period ended September 30, 2014. You can also see whether or not the portfolio outperformed its benchmark, and the percentage of system assets dedicated to hedge funds. Chart credit: Pensions & Investments

Yves Smith on CalPERS’ Private Equity Review: Is It Enough?

On Thursday, Pensions & Investments broke the story that CalPERS was putting its private equity benchmarks under review. Beginning with the end of last fiscal year, the fund’s private equity portfolio has underperformed benchmarks over one year, three-year, five-year and ten-year periods [see the chart embedded in the post below]. CalPERS staff ...

Pension Funds: Hedge Funds Should Meet Benchmarks Before Charging Fees

Pension funds and other investors called for changes Tuesday in the way hedge funds charge fees. The proposed changes were outlined in a statement by the Alignment of Interests Association (AOI), a hedge fund investor group to which many pension funds belong. The group said that hedge funds should only charge performance fees when returns beat benchmarks, ...
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