Risk
French Prime Minister Reveals Pension Reform Plan
New system will be consolidated from 42 separate plans into one.
News Archive: Dec - 2019
Asset Allocation
University of Virginia Returns 5.8% in 2019, Misses Benchmark
But endowment’s $9.6 billion portfolio outperforms over five, 10, and 20 years.
Regulation
SEC Freezes Solar Panel Maker’s Assets Over Alleged Fraud
Executives allegedly used funds for yacht, sports cars, cosmetic surgery.
Asset Allocation
S&P Aggregate Pension Funded Status Rose in November
Level rises to 85.8% for corporate plan funding, Aon says.
Newsmakers
After Phase One Trade Pact, Talks Will Get Really Hard, Dimon Says
JPM chief is sanguine about an initial deal, but warns against more tariffs being imposed.
Market Moves
UK DB Plans Funded Ratio Rises to 96.1% in November
Deficit for UK defined benefit plans fell to £71.1 billion.
Asset Allocation
Danish Pension, Insurance Assets Grow to $712 Billion
Asset value of sector is more than twice the country’s GDP.
Seth Kelly Resigns, MOSERS to Launch Search for New CIO
Seth Kelly departed the $11.6 billion pension after replacing 21-year CIO Rick Dahl in 2016.
Asset Allocation
Look Out, Volatility May Be Making a Comeback
Why? The era of low VIX readings has lasted longer than normal, and there’s the unending trade war.
Regulation
Proposal Denied! SEC Rejects Plan to Allow New Capital Raises Through Direct Listings
NYSE’s new idea hits a roadblock.
Research
2019 Funding Ratio Drops Despite November Lift in US Corporate Pension Investment Returns
Milliman warns a December correction could be ‘disastrous’ for pensions.
Risk
UK Pension Risk Transfer Market to Quadruple in Decade
Mercer expects UK bulk annuity market to top £40 billion this year.
Alternatives
SEC Approves Bitcoin Futures Fund
The NYDIG Bitcoin Strategy Fund is not for high-risk averse investors.
Asset Allocation
One-Fifth of CalPERS Equity Portfolio Faces Climate Change Risk
In inaugural report mandated by state, pension details four sectors in which climate change could affect its portfolio.
Corporate Moves
Texas Teachers’ Planning for Next CIO
Jerry Albright to take on a new role at the $156 billion retirement system.