AIMCo Political Takeover Flies in Face of Canadian Model
The Alberta Investment Management Co.’s costs were in line with other Canadian funds, but governance issues pose risks, pension experts say.
Pensions
NYCERS Becomes 89th Member of Net-Zero Asset Owner Alliance
Only seven other U.S. institutional investors have joined the group, which aims to align its portfolios to meet the Paris Agreement’s climate targets.
Saudi Sovereign Wealth Fund Closes Out October With Flurry of Deals
The Public Investment Fund signed MOUs with five Japanese banks worth $51 billion, among other deals.
PSP Investments Acquires 3 UK Airports for $1.94B
The Canadian pension will acquire AGS Airports, the operator of Aberdeen, Glasgow and Southampton Airports.
UK Chancellor Plans Britain’s Biggest Pension Reforms in Decades
Chancellor of the Exchequer Rachel Reeves proposed the consolidation of more than 80 local government defined contribution funds into pension ‘mega-funds’ in pursuit of Canadian- and Australian-style pension investing.
Corporate Pension Funded Status Ticks Up in October
Rising discount rates mostly offset both weak investment returns and declines in plan assets last month.
Japan’s GPIF Posts Worst Quarterly Loss Since Covid Outbreak
The pension giant lost 3.6% during the second quarter due to foreign bonds and falling domestic stocks.
Australia’s Prime Super Names McQueen as New Investments Head
Formerly head of Media Super prior to and during its merger, Michael McQueen will run investments for the multi-industry superannuation plan.
Aon Adds $4.56B in OCIO Assets With 3 New Clients
A defined benefit pension administered by the company is among the funds outsourcing assets in its EMEA region.
Utilities, Real Estate Equities Fuel Canadian Pension Plans’ 5.1% Q3 Returns
The performance raised the plans’ year-to-date return to 9.6%.
Nokia Named Mercer as OCIO for US Retirement Plans
The telecom giant outsourced the investment of its defined benefit pension and defined contribution portfolios.
UK Pension Allocates 3% of Portfolio to Bitcoin
According to pension adviser Cartwright, an unnamed client allocated a single-digit percentage to the digital asset.
PBGC Approves SFA Funding for 4 Pension Funds
Teamsters Local 111, Marine Carpenters Fund, UFCW Tri-State Plan and I.B.E.W Pacific Coast Fund, all distressed funds, were provided with support.
CPP Investments Launches Joint Venture to Bolster UK Housing Market
The C$648.8 billion pension giant will own a 90% stake, while real estate firm Kennedy Wilson will take a 10% interest and manage the operation.
Florida CFO Tells Pension Funds to Consider Crypto Investments
Jimmy Patronis called on the $245 billion State Board of Administration to study adding digital assets to the state’s pension fund.