UK's Pension Protection Fund Plans for 110% Funding by 2030
Britain's Pension Protection Fund (PPF), created in 2005, aims to build its solvency ratio to 110% over the next 20 years, from 88% in March 2009.
News
SEC Gives Power to Shareholders to Influence Boards
Long sought by investor advocates, the new rule by the SEC makes it
easier for shareholders to nominate directors of public companies.
Illinois TRS May Sell Up to 10% of Investment Portfolio
Unless lawmakers find a solution for the financially-strapped state to make its pension contributions this fiscal year, the $33.1 billion Illinois Teachers' Retirement System will be forced to sell investments to cover benefits.
CPPIB Invests $329 Million in Aussie RE Fund
As part of its latest bid to acquire new Australian assets, the Canada Pension Plan Investment Board says it is providing hundreds of millions of dollars in financing to a restructured Australian retail property fund.
Norway's SWF Drops Israeli Companies Citing 'Grossly Unethical' Actions; Africa Israel Says Claims Are Groundless
Norwegian Finance Minister Sigbjorn Johnsen said the oil fund has excluded two Israeli firms for ethical reasons.
NYSE Confirms Price Reporting Delays That Contributed to the Flash Crash
ai5000's Joe Flood digs into the causes of the May 6th Flash Crash — when nearly 1000 points mysteriously disappeared from the market in a matter of minutes — and unearths internal analysis leaked from a Bank That Shall Not Be Named, surprising new data from the market research firm Nanex, and a first-time admission from the NYSE: that there were significant price reporting delays on May 6th, delays which contributed to the Crash.
Former Wesleyan University CIO Sued by CT Attorney General
Connecticut's attorney general alleges that Thomas Kannam's “golf outing of the century” in California, a Super Bowl outing, and a trip to the United Kingdom with his entire family to interview for a job at Cambridge University were flagrant abuses of both his power and of the university's endowment assets.
Pensions Should Follow the Leads of CalPERS and Utah Retirement Systems Over HF Fees
Research house Lipper is encouraging schemes to demand greater explanation and justification on hedge fund fees.
PBGC Sees Hike in Multiemployer Benefit Payments Ahead
The US public body that insures pensions says it expects five-fold rise in multiemployer benefit payments.
Number of FTSE Firms Providing Final Salary Benefits Drops
Researchers have found that the number of defined benefit pension schemes in the UK has continued to plummet over the past year.
Schwarzenegger to Borrow $2 Billion From CalPERS
Governor Arnold Schwarzenegger has privately proposed borrowing from CalPERS to help ameliorate California's $19 billion budget deficit.
PE and Infrastructure Spur Growth of Caisse de Depot in H1
Caisse says it was able to beat the average loss of Canadian pensions
for the first half of 2010 by focusing on fixed income and alternative assets,
while reducing holdings of stocks.
Korean Pension Service Acquires 51% Interest in Paris Shopping Center
Mall owner Hammerson has sold more than
half of its interest in the O'Parinor Shopping
Centre near Paris to Korea's National Pension Service, freeing $278 million for
planned investment.
CIC May Select China's Biggest Fund Manager to Oversee Investments
The selection would mark the first time the China Investment
Corp (CIC) picked a Chinese firm to manage money on its behalf.
New Jersey Settles SEC Pension Fraud Charges
In the first suit by the Securities and Exchange Commission (SEC) against a state for securities fraud, the regulator claimed that when New Jersey issued $26 billion in bonds between 2001 and 2007, it fraudulently and erroneously portrayed its pension funds as adequately funded.