Newsmakers
New York State Comptroller Seeks LGBTQ+ Information From 17 Firms
Cites U.S. Chamber of Commerce report finding that firms with inclusive policies financially outperform their sector peers.
News Archive: Jun - 2024
Corporate Moves
The Evolution of Insurance in the Age of PRT
Private equity investment in the insurance industry is affecting how some view risks in the pension risk transfer market, while others say it will broaden the PRT sector’s appeal as a diversification tool.
Asset Allocation
Home Bias: Do Canadian Pensions Need to Invest More in Canada?
Canadian lawmakers and business leaders criticize the country’s pension funds for not investing more domestically, but doing so could introduce risks, a new paper states.
Asset Allocation
Public Equities Spur 10.2% Return for University Pension Plan Ontario in 2023
The asset class gained 19.5% for the UPP investment portfolio after losing 14.1% a year earlier.
Regulation
Construction Pension With 666 Participants Rescued by PBGC
The Arizona Bricklayer’s pension will now remain solvent through 2051.
Pensions
Illinois Multiemployer Fund Agrees to Repay $8M in Excess Bailout Funds
The repayment is the second related to overpayment of excess funds received from the PBGC in connection with the Special Financial Assistance Program.
Former Allianz Global Investors CIO Pleads Guilty to Fraud
Gregoire Tournant allegedly lied to investors and distributed altered risk reports.
Pensions
3M to Transfer $2.5B in Pension Liabilities to Met Tower Life
The pension risk transfer will cover 23,000 of the company's retirees.
Regulation
PBGC Rescues Two Pensions Covering 25,000 People
The SFA funds used to restore the plans total more than $500M.
Regulation
House Republicans Characterize ESG as an Anti-Trust Cartel
ESG skeptics allege that the investing strategy is a conspiracy to reduce fossil fuel production.
Risk
Allocators’ Biggest Worries? Finding the Best Data and Tools—and ESG
Macro concerns like wars also loom large for them, a Morningstar survey finds.
Corporate Moves
Dutch Pension ABP to Partner With Network Provider KPN on Tower Company Joint Venture
The duo will manage the joint venture’s telecommunications assets under TowerCo.
Pensions
Corporate Pension Plan Funded Status Shows Continued Improvement
May saw a decline in discount rates, while equity markets maintained high funding levels.
Research
How the Fed’s Balance Sheet Reduction Could Thwart Easing of Policy Rate
Lowering its stash of long-dated bonds would have an impact on long-term yields, BlackRock finds.
Risk
Large Institutional Investors Rally Against Tesla Pay Package
NBIM, CalSTRS among funds voting against $56 billion pay package for executive Elon Musk.