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CalPERS, CalSTRS to Step Up Climate Change Engagement Efforts

CalPERS and CalSTRS have issued a joint statement recounting their track records on engaging corporations on the topic of climate change. The statement also outlines future initiatives aimed at stepping up their corporate engagement on the sustainability front. From the statement: We recognize climate change as a material risk to society, the economy, ...
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Study: Pensions Put Pressure on Private Equity to Formulate Environmental, Social Investment Policies

Research from the London Business School shows that the vast majority of large private equity firms – 85 percent – are feeling increased pressure from Europe’s institutional investors to incorporate environmental, social and governance (ESG) considerations into their investment policies and processes. Details from Investments & Pensions Europe: The ...
CalSTRS

CalSTRS Looks to Partner Up For Direct Infrastructure Investments

CalSTRS is looking to team up with other institutional investors to bid directly on private infrastructure, according to the Wall Street Journal. The fund’s investment staff is meeting today [Feb. 6] to amend its investment policy to allow such ventures. More from the Wall Street Journal: The nation’s second-largest public pension fund, California ...
Calpers

CalPERS Taps SIO for Real Assets From Morgan Stanley

CalPERS has hired Paul Mouchakkaa to be its senior investment officer for real assets. Mouchakkaa has previously been a managing director at Morgan Stanley and Pension Consulting Alliance. He’s also worked at CalPERS as a real estate portfolio manager. More from Globe St.: As SIO of real assets, the Los Angeles-based Mouchakkaa will manage a 60-member ...
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Kentucky Pension Audit Would Cost at Least $150k, Says State Auditor

Kentucky’s Chamber of Commerce last month called for an audit into the Kentucky Retirement Systems. This week, Kentucky’s top auditor revealed that such an endeavor would cost at least $150,000 and require the expertise of outside investment experts, which could raise the cost further. The audit would focus on the investment polices at KRS and ...
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Alabama Supreme Court Blocks Lawsuit Against State Pension Investments

The Alabama Supreme Court has dismissed a lawsuit brought by public employees who said the Retirement Systems of Alabama has made unwise investment decisions leading to lower returns. From the Associated Press: The Alabama Supreme Court has blocked a lawsuit that challenged the state pension fund’s investment in hotels, golf courses and other ...
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Report: Japan Pension Set to Benefit From Reforms

Japan’s Government Pension Investment Fund (GPIF) – the largest pension fund in the world – implemented numerous changes in 2014, including an asset allocation shake-up and the hiring of its first chief investment officer. A new report says the reforms will benefit the fund going forward. From Chief Investment Officer magazine: A report jointly ...
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Incoming Massachusetts Governor to Push for Transparency at MBTA Fund

Massachusetts Governor-elect Charlie Baker says he will push for more transparency and openness from the MBTA retirement fund. Baker’s statements come days after it was reported by the Boston Globe that the pension fund posted its annual report a full year late; the fund also waited a year to disclose troubles at a hedge fund that held pension money. ...
japan tokyo

Experts: Japan Pension Should Be Run By Board, Not President

Currently, Japan’s Government Pension Investment Fund (GPIF) – the largest pension fund in the world – is managed by a President. The sole trustee system is rare; it is used by a few pension funds in the United States, but more typically a board of trustees is utilized to make investment policy and governance decisions. Now, experts are calling ...
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Alabama Pension Approves Changes To Investment Policy, Governance Structure

The Retirement System of Alabama has updated its investment policy and made some governance changes. But the specifics of the changes are currently unknown as they are still being finalized. More details on the investment policy changes from the Times-Daily: Copies of the two resolutions approved Monday by the Employees’ Retirement System Board ...
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