Balancing The Account

Public Pension Plans Return Assumptions Fall To Record Low

From a median average of 8% in 2010, the return assumptions of public pension plans have fallen to record low of 7.45% as of November this year, according to a report from the National Association of State Retirement Administrators (NASRA). The trend has placed even more pressure on the finances of state governments. Here is an excerpt from a report ...
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How a Former NY Pension Director Hid His Pay-to-Play Scheme

Back in 2016, an investment director at the New York State Common Retirement Fund was indicted on charges of steering pension money towards certain brokers in exchange for monetary bribes and drugs, among other things. But how did Navnoor Kang, 37, hide his funneling of millions of dollars in business to two brokers? A report, released by the New York ...
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How Many Teachers Deserve Adequate Retirement Benefits? Some? Most? All?

Chad Aldeman is an associate partner at Bellwether Education Partners and a former policy advisor at the U.S. Department of Education. This post was originally published on TeacherPensions.org. How many teachers should be eligible for adequate retirement benefits? My answer is all of them: For every year they work, teachers should accumulate benefits ...
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Asset Management Still Inflicted By Lack of Diversity As Emerging Managers Fight For Small Piece Of Pie: Report

Investment management is well known to be dominated by white males. But it’s still startling to see what a small percentage of assets (1.1%) are managed by firms run by women or minorities, according to a new report authored by Harvard Business School and Bella Research Group’s Josh Lerner. The stark number comes even as public pension funds ...
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.
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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 ...
NCPERS 2016 Public Retirement Systems Study

Public Pensions Pushed Fees Lower, Improved Funding in 2016: Report

Public pension funds achieved lower investment and administrative expenses in 2016, according to an NCPERS study of 159 public funds. The funds decreased their fees by only 4 basis points; but this trend was coupled with another year of improved funding ratios. From the study: Responding funds report the total cost of administering their funds and ...
Credit: IR Halo Investor Relations Survey 2016

Your Website Is Probably Harming Investor Relations, Says Survey

A majority of investors are not satisfied with the quality of information on hedge fund managers’ websites — and therein lies an opportunity for a competitive advantage for emerging managers, according to a recent survey of investors conducted by IR Halo. One-hundred percent of responding investors said they use a hedge fund’s website ...
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Former NY Pension Official Took Bribes in Pay-to-Play Scheme: SEC

The Securities and Exchange Commission on Wednesday levied fraud charges against a former New York pension official and two brokers. Navnoor Kang, who was head of fixed income for the New York State Common Retirement Fund from January 2014 to February 2016, allegedly accepted bribes — included cocaine and prostitutes — in exchange for steering ...
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CalPERS Staff Recommends Lifting Tobacco Ban

It’s been 16 years since CalPERS went cold turkey on tobacco-related assets. But quitting tobacco is hard, even for an institution. When CalPERS looks at tobacco now, it sees dollar signs. An eight-month study conducted by a CalPERS consultant concluded that the pension fund has lost out on significant returns because of the ban, and now pension ...
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