PIMCO Seeks Troubled Assets From Banks
One of the world's largest asset managers is seeking at least $1 billion for a private fund to buy troubled loans from banks.
Newsmakers
NYC Pensions Probe Banks for Foreclosure Info
New York City Comptroller John C. Liu, on behalf of the trustees of the New York City Pension Funds, is calling on directors at Bank of America Corporation, Wells Fargo & Company, JPMorgan Chase & Co., and Citigroup Inc. to conduct an independent audit of their banks’ mortgage and foreclosure practices.
Kuwait's SWF Considers GM Stake; Future Fund Calls for EU Stability
The Gulf country's sovereign wealth fund is expected to purchase a stake in General Motors after it issues its IPO later today; Australian Future Fund Chairman David Murray seeks EU stability.
PBGC Reports Widening Deficit in Fiscal 2010
The Pension Benefit Guaranty Corp., which insures the pensions of one in seven Americans, revealed that its annual deficit increased 4.5% to $23 billion.
CalPERS First to License Ermitage HF Software; Abandons 'Name-and-Shame' Listing
The California Public Employees' Retirement System (CalPERS) has bought the rights to license proprietary portfolio management software from Jersey-based Ermitage, and has revealed it will cease releasing its annual Focus List of underperforming stocks.
Singapore Fund Invests $106 Million in Petrobas, China Construction Bank
According to a regulatory filing, Singapore state investor Temasek Holdings invested about $106 million in Brazil's Petrobras during the last quarter.
CalPERS to Commit $500 Million to Environmentally-Friendly Companies
The country’s largest public pension fund has said it will pour $500 million into 'green' companies, focusing on “top performers that have improved share value and also done good for the environment.”
CalPERS Posts Latest Return That Tops Estimates
The California Public Employees' Retirement System has reported a 13.3% return on its investment for the year ended June 30.
Canada's Biggest Pensions Team Up, Committing $3.4 Billion to British Rail Link
In the same week that the Canadian government blocked the hostile takeover bid for Potash Corporation by the Anglo-Australian mining group BHP Billiton, two of Canada's largest pension funds have won a 30-year deal to operate a rail route linking the Channel Tunnel with central London.
Pittsburgh Pension Forecast Even Worse Than Expected Under State Control
Yesterday afternoon, the City Council heard from state officials about what a state takeover of city pensions could mean to taxpayers -- the process would result in steeply higher annual pension payments, beginning in 2013.
Norway SWF to Invest More Heavily in Real Estate
Norges Bank has made its first real estate investment for the Norwegian Government Pension Fund Global, acquiring a 25% stake in The Crown Estate's Regent Street portfolio in London in March 2010.
Photo Gallery: CIOS UK 2010
See photos of aiCIO's successful October Chief
Investment Officer Summit in London. Designed specifically for the key
decisionmakers at the world's largest asset owners, the event featured
an array of panelists -- including Jay Vivian, former managing director
of IBM Retirement Funds, and Mark Gibbens, Chief Investment Officer of
Alcatel-Lucent -- as well as keynote speaker Nassim Taleb.
Goldman Plans Takeover of Troubled UK Pensions Insurer Paternoster
Paternoster, set up in 2006 to buy up defined benefit pension schemes from companies seeking to offload their risk, is expected to complete a takeover deal within the next couple of months.
Ireland Urged to Use Pension for 'US-Style Stimulus'
Glas Securities has said that Ireland's National Pensions Reserve Fund (NPRF), created in 2001 to pay for future pension liabilities, should consider using its state pension fund to hedge against the impact of a planned budget squeeze.
PIMCo's El-Erian Warns of the 'New Normal', Says Fed's Moves Could Spur Inflation
Mohamed El-Erian, CEO of the Pacific Investment Management Co. (PIMCo), who popularized the phrase "new normal" to describe how growth will be depressed by consumer retrenchment and tighter financial regulation, says the Fed's purchase of Treasuries will lead to faster global inflation while failing to revive US economic growth.