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...to filings from Calstrs, the US teachers’ pension scheme....
...Rawlinson said the fund was a “loyal” and “long-term” owner, having invested in every fundraising to date....
...If you wait for the perfect moment, when pension fund values are high and annuity rates are peaking, it may never happen....
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...The bounty continued investing in the company’s annuities until they reached a peak in 1777, when they were worth £406,942, or roughly £724mn now....
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...Basically, Fishman thinks that their dramatic growth — he estimates their overall AUM at ca $400bn if you include products like variable annuities — means they “a stabilising influence”, but that their importance...
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...Last week, Christopher Ailman, outgoing chief investment officer at Calstrs, warned that while “it’s great [private equity funds] make money for our retirees — who are teachers — and for other funds . ....
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...The most important variable for gold prices, historically, is real rates, the opportunity cost for holding a yield-free metal....
...As a low-risk alternative, he suggests using money market or gilt funds within your pension. 5....
...However, it is surely a mistake to bounce the Church of England into a huge reparations commitment on the grounds that it profited from this trade....
...Companies looking to do these so-called bulk annuity deals need to make the assets as attractive as possible to potential buyers....
...Calstrs, formally the California State Teachers’ Retirement System, has for six years in a row put more money into private equity than it has received back, according to filings....
...“It’s great they make money for our retirees — who are teachers and for other funds,” he said....
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...State Teachers Retirement System....
...Before then, they mostly had to buy annuities. Bond-heavy annuity funds hedged that liability as retirement approached....
...Should my husband buy an annuity? My husband has an adequate pension fund invested in very low-risk equities. He is 73, very healthy, and has no immediate plans to retire....
...The Canadian fund already has significant investments in the UK. Last year it bought a 25 per cent stake in SSEN Transmission, a division of Scottish energy company SSE, for £1.5bn....
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