£7.8 Billion of Risk Transfer Deals Completed Last Year, More Coming in 2010
Companies are increasingly outsourcing risk by offloading defined
benefit pension scheme liabilities, research from consultants Hymans
Robertson shows.
News
Pension Funds Encourage Companies to Honor Voluntary UN Commitment
Signatories to the compact are committed to reporting
annually on company progress in implementing
environmental, labor, social and corporate governance goals.
Movers and Shakers: 8 Consultants Join Mercers’ Alternative Investment Group
Mercer has expanded coverage in North America, Europe and Australia.
Top Priority for Pension Execs: Controlling Volatility
Following the financial crisis with corporate
pension plans looking
to minimize risk, SEI’s poll shows that other
focus areas include stress testing portfolio, evaluating investment
approach and defining fiduciary roles.
San Diego Pension Shifts Its Private Equity Portfolio
The $7 billion San Diego
County Retirement Association is working on adjusting its strategy in
alternative investments.
Two Pension Funds Sue Morgan Stanley Over Compensation; Juniper Hit With $169 Million Backdating Settlement
The Security Police and Fire Professionals of America Retirement Fund
& Central Laborers’ Pension Fund label Morgan Stanley's payouts as
“unjust enrichment” for failing to administer its compensation plans in
the best interests of the company and its shareholders; Juniper Networks
to pay millions in backdating suit.
BT Agrees to Cut Its £9bn Pension Deficit
BT nearly tripled Q3 profit, but its pension deficit is the
biggest ever recorded by a
UK private company.
Chairman Lou Jiwei Offers Glimpse Into China’s Sovereign Wealth Fund; Singapore’s Temasek to Create $4 Billion Investment Unit
CIC's Jiwei, a computer scientist-turned-economist, says the
SWF will let its own in-house portfolio managers lead investments in
developed markets. SWF Temasek will launch a new wholly owned
subsidiary.
CalPERS and CalSTRS Fail to “Honor the State Law,” Attorney General Says
California Attorney General Edmund G. Brown Jr. says funds must
divest from companies doing business in Iran.
Sun Life's CIO Says US Ratings Threat Is Not Immediate
Despite a predicted deficit of $1.6 trillion this year,
Steve Peacher says policy makers in the US have sufficient time to
deal with the triple-A rate cut issue.
ATP Seeks “All Weather Portfolio”; Separate Accounts Gain in Popularity; Pensions Tell Hedgies to Cut Fees
While Denmark's pension fund ATP will up its investment in hedge
funds, pension
funds are hoping to negotiate lower fees with reluctant fund managers
this year.
Pension Corp. to Finalize Capital Raising
The specialist insurer is close to completing 600 million pounds
($942 million) in
fundraising as it looks to profit from the growing desire of UK
companies to insure their pension liabilities.
Detroit's Big Three Automakers Face Growth in Unfunded Liabilities
As automakers' pension funds earn lower rates of
return, their funding needs escalate.
Following Pension Lawsuits, Cuomo Charges BofA and Former Executives With Fraud
Andrew Cuomo, New York
attorney general, claims Bank of America, former Chief Executive Kenneth
Lewis and former Chief Financial Officer Joe Price lied to shareholders
about the acquisition of Merrill Lynch & Co.
UK Fund Firm Hermes Extends Fees Clawback
The fund's decision is the first time such a
clawback system
has been proposed to all of Hermes’ funds.