Pensions
US Corporate Pension Funding Mixed on Stock Declines
Record pension funding levels cooled slightly in April from a drop in asset values, but were partly saved by another uptick in discount rates.
News Archive: May - 2024
Newsmakers
Andrew Yorks Appointed as Head of Global Investment Strategy at Prudential
His appointment is effective July 15, and he will report to Prudential CIO Tim Schmidt.
Manager Selection
Nest to Replace State Street with Northern Trust as Its Administrator
The UK pension program lauds its new investment firm’s ‘flexibility’ and ‘sophistication.’
Pensions
Google Cloud Accidentally Deletes Australian Superannuation Fund’s Data
The $83 billion UniSuper saw its operations disrupted over the accident.
Risk
Private Credit Downgrades Rise Among Mid-Sized Companies, Says KBRA
Among a sampling of them, 21% had first quarter demotions, striking a possibly worrisome note for a key part of the economy.
Regulation
Ann Orr: New PBGC Acting Director
Orr takes over on an acting basis after Hartogensis’ term expired.
Newsmakers
Quant Trailblazer Jim Simons Dies at 86
His success came from pioneering efforts in applying algorithms to hedge fund trading, a popular investment for allocators.
Asset Allocation
CPPIB and Global Infrastructure Partners to Acquire Energy Provider Allete
The company will be acquired for $67.00 a share in a take-private deal worth $6.2 billion.
Regulation
Congress Should Incentivize Pension Plan Creation, NIRS Report Says
The report provides 6 recommendations on how Congress can increase DB plan creation.
Pensions
Ohio Governor Seeks Investigation into Teachers Retirement System
Aon, the pension fund’s investment consultant, abruptly dropped STRS as a client last month.
Asset Allocation
Energy Company Bonds Lengthen Maturities—a Threat to Investors, Report Says
The problem: Demand in coming decades will fall for fossil fuels, putting debt at risk, Anthropocene institute warns.
Asset Allocation
Octopus Energy Receives New Investments from CPPIB, GIM
The energy provider, recipient of a $370 million funding round, increases valuation to $9 billion.
Pensions
Bank of America, Goldman Sachs, Morgan Stanley Accused of Delaying on Clean Energy Financing Disclosure
NYC Comptroller seeks annual disclosure of each banks’ ratio of clean energy supply financing to fossil fuel energy supply financing.
Pensions
Seventh-Day Adventist Regional Conference Retirement Plan Searching for a CIO
A candidate should have 10 years of experience and an investment credential, like a CFA charter.
Regulation
Financial Services Committee Targets SEC Enforcement Activity
Pending legislation would limit the authority of the SEC’s administrative courts and redefine 'violation' in the securities laws.