Scranton Pension Board Sued for Double Payments
Lawsuit cites 2015 Audit Report that said the payments disregarded the laws governing pension plans.
News Archive: Jun - 2017
UK Pension Funding Gap Widens
Aon Hewitt report shows that funding for the top 5% of pensions plans has risen, while funding for the bottom 5% has fallen.
Santa Monica Agrees to Fund CalPERS $45 Million
City council significantly boosts annual payment from $1.3 million to pay down unfunded liability.
Newsmakers
IMN: Disruptive Technology Creates Challenges, Opportunities for RE Investors
Real estate experts agree: The only thing that’s certain is change.
New Hedge Fund Launches Increase for First Time in a Year During Q1
After $100 billion of redemptions in 2016, some signs of optimism build for hedge fund industry.
The Hartford Transfers $1.6 Billion in Pension Liabilities to Annuity
Responsibility of benefits for 16,000 former employees transfers to Prudential.
SkyBridge Out $1.6 Billion at Fiscal Year End
Outflows beat inflows for the first time in a decade at Scaramucci’s former home.
Robert Soros Resigns to Build New Branch, Invest in Firm
Firm seeks to hire a global macro-portfolio manager for its two macro teams.
Corporate Moves
BlackRock to Head ASU Foundation Endowment
The asset management Goliath is making inroads in endowments and foundations.
Newsmakers
Report: Pensions Use Accounting Tricks to Keep Up Appearances
NC State report finds “unscrupulous accounting” practices widespread among state pension plans.
New Chamber of Commerce Index Shows Healthy Commercial Construction Sector
96% of executives surveyed in the sector expect steady or growing revenue in 2017.
Newsmakers
Philippines Social Security Net Revenues Plunge
Sharp drop due to 43% rise in Q1 disbursements, and additional benefit for retirees.
Asset Allocation
MSCI Set to Include Chinese Big Caps, But Growth May Be Elsewhere
The 222 large-cap stocks being included in emerging market ETF are largely part of the old Chinese economy.
Newsmakers
Mylan Board Re-Elected, Beats “Vote No” Campaign
Although shareholders voted against Management Proposal 5, the directors remain.
Risk
Michigan Pension Bill Goes to Gov. Snyder
If Senate Bill 401 passes, hybrid plans would get a 7% contribution state and schools.