Risk
New York, Oregon Pension Funds Sue Fox Corp. for Opening Itself Up to Lawsuits
Fox recently settled for $787 million a lawsuit from Dominion Voting Systems.
Tag: New York City Employees’ Retirement System (NYCERS)
Pensions
NYC Comptroller, Pensions Urge Hollywood CEOs to Resolve Strikes
Brad Lander warns that a prolonged work stoppage may harm the ‘long-term stability' of investments held by the city’s pension funds.
Asset Allocation
NYC’s 5 Pension Funds Return Combined 8% in Fiscal 2023
The returns are expected to reduce the city’s required contributions to the pension systems by approximately $550 million over the next five years.
Newsmakers
Lagging Governmental Commitment to Reduce Inequality Must Be Acted Upon, Top Economists Say
Group assembled by Nobel winner Stiglitz chides governments for ignoring pledge they signed to fight global poverty.
Manager Selection
Cinctive Capital Management Hires Michael Haddad as Deputy CIO
Haddad was previously interim CIO overseeing the New York City Retirement Systems’ $248 billion portfolio.
Newsmakers
NYC Pension Funds Sued for Divesting $4 Billion in Fossil-Fuel Assets
The complaint alleges breach of fiduciary duty in ‘misguided and ineffectual gesture to address climate change.’
Market Moves
NYC Pension Funds File Board Diversity Proposals at 4 Firms
The city’s comptroller calls for disclosure of board members’ race and gender at Capital One, Las Vegas Sands, NextEra Energy and Caesars.
Asset Allocation
NYC Pension Funds Have Reduced Emissions by up to 27% Since 2019
Three of the city’s five funds are looking to reach net zero greenhouse gas emissions by 2040.
Pensions
NYC Pension Funds Call On Chipotle to Adopt Noninterference Policy
Comptroller Brad Lander alleges the company has demonstrated a pattern of anti-union tactics.
Newsmakers
NYC Pension Funds Call for Greenhouse Gas Disclosure From 4 Major Banks
Shareholder proposals have been filed with Bank of America, Goldman Sachs, JPMorgan Chase and Royal Bank of Canada.
Corporate Moves
NYC Pension Fund-Led Group Strikes Deal With Apple on Workers’ Rights to Organize
Tech giant agrees to publish independent assessment on employees’ rights to unionize.
Newsmakers
New York City Retirement Systems Emphasized Sustainable Stakeholder Value in 2022
Comptroller Brad Lander prioritized DEI reporting standards and combated legal opportunistic insider trading at portfolio companies.
Manager Selection
NYC Comptroller Hires Diversity, Equity, Inclusion Director
Taffi Ayodele will lead office’s strategy to expand engagement and allocations to minority and women-owned firms.
Asset Allocation
NYC Pension Launches Dashboard, Reveals 25% Alts Allocation
The city’s five pension funds have $61.5 billion invested in private equity, alternative credit, and private real estate combined.
Newsmakers
Steven Meier Named CIO of New York City Pension System
He succeeds Michael Haddad to become the first permanent CIO of NYCRS since Alex Doñé left in December.