In the first suit by the Securities and Exchange Commission (SEC) against a state for securities fraud, the regulator claimed that when New Jersey issued $26 billion in bonds between 2001 and 2007, it fraudulently and erroneously portrayed its pension funds as adequately funded.
The value of CPPIB's investments has declined US$1.6 billion in the first fiscal quarter, yet the Toronto-based board has enjoyed rising assets, helped by strong
contributions.
On the tail of the firm's Long Duration Credit Strategy’s three-year
mark – in which it outperformed the Barclays Capital US Long Credit
Index – LGIMA’s US fixed-income head sees further LDI mandate growth in
North America.
Data from SuperRatings reveals that the average super fund returns have fallen under the double-digit mark, as Australians would have fared better by putting their superannuation solely into Australian shares for the past decade.
Despite a tumultuous 2008, the CIC outperformed many other sovereign wealth funds following the global financial crisis -- the country's $300 billion SWF upped its net profit to $41.7 billion in 2009 from $23.1 billion in 2008.
A new study by consulting firm Mercer shows US pension deficits have reached a record high, revealing a downturn in pension health that erases gains achieved since January 2009.
The firm's suit alleges that three of its former executives violated agreements they signed regarding confidential information they gained about State Street’s securities lending business in the course of their employment.
The largest US pension fund
voted to
lift the limit on the number of shareholder proposals its staff can
issue and announced plans to increase the accountability of
directors through a majority vote policy.
Sources say the San Diego Country Employees Retirement Association is leveraging its fixed-income portfolio to create 'risk parity', continuing a trend among pension funds.
