Prosecutors Expand Investigation Into Banks on Cheating Pensions
Investigators are in the process of probing banks on overcharging state pension funds for currency trades, the Wall Street Journal has reported.
News Archive: Feb - 2011
AXA Rosenberg Settles With SEC, Paying $242 Million for Hiding Computer Glitch
The US computer-based investment branch of the French AXA group will pay $242 million in compensation and fines for allegedly concealing a major program glitch.
PIMCO's Gross Says Bankers Should Be Ashamed
In a 2,000-word diatribe, PIMCO's Bill Gross has said that Central bankers compare unfavorably to the devil and that money managers have failed to properly allocate capital.
Pension Orgs Aim to Set the Record Straight on Public Schemes
A group of 10 organizations representing state and local governments and public pension plans have released a fact sheet to get the facts out on public pension plans.
Bloomberg Urges Major Reform to Plug Pension Hole
New York City Mayor Michael Bloomberg has proposed a major overhaul of the city's expensive pension system, which he has said would be his administration's No. 1 priority in Albany.
ATP Brings Low-Cost Pension Alternative to the UK
With the help of former Conservative pensions spokesman Nigel Waterson, Danish pension ATP is set to launch an alternative to the National Employment Savings Trust (NEST) targeting low to middle-income earners.
Sovereign Asset Managers Switch to Passive, Evolve Their Investment Strategies
According to research prepared by State Street Global Advisors (SSgA), the financial crisis has driven the world's leading sovereign wealth funds to reexamine their investment strategies and make a number of significant changes.
MassPRIM Board Aims to Slash $30 Million in Fees Via Direct HF Investing
The Massachusetts pension may soon directly invest in hedge funds instead of relying on a more costly funds-of-funds approach.
What Your Consultant Is Saying About…Egypt
As popular unrest and protests diffuse from Egypt and Tunisia to Jordan and Yemen, investment consultants remain calm, keeping a watchful eye on emerging markets while suggesting a long-term view.
Muni Board Investigating Greater Disclosure at Pension Funds
Motivated by the need for greater transparency in the municipal bond market, the Municipal Securities Rulemaking Board is looking into ways to broaden issuer disclosure of the standing of their pension plans.
Younger Workers Covered for First Time in Longevity Swap, JP Morgan Claims
The United Kingdom’s Pall Pension Fund has offloaded millions in longevity risk relating to younger and current employees – a first for any fund, hedge provider JP Morgan is claiming.