Hints and tips:
...— has quite the job ahead of him, which he obliquely nodded to in the pension plan’s statement: “I’m grateful to CalPERS’ leaders for the trust they’ve put in me to help shape the pension fund’s next chapter...
...“It has been an honour to lead and guide this massive global investment trust fund for the teachers of California,” said Ailman....
...State Street Global Advisors developed a new product for the $32bn University of California retirement system aimed at this issue....
...Gilmore starts at the largest US public pension plan in July, ending a seven-month vacancy in the top position at the $494bn pension fund....
...One of his final acts has been to obtain board approval for a controversial $30bn of borrowing to help manage the fund’s giant illiquid portfolio....
...Thirty-six “master trusts”, the largest workplace DC pension schemes, held three-quarters of the DC pension sector’s £143bn total assets, or £105bn, as of June, according to The Pensions Regulator....
...Fundraising for private credit has become “less rushed” because of the “more challenging” market conditions, said a spokesperson for the $50bn Connecticut Retirement Plans and Trust Funds....
...But he added that it would not be right for pension funds to simply invest in home markets due to ministerial pressure....
...UK pension fund trustees must consider increasing the range of their investments, including in start-ups or other illiquid assets, or face “robust” intervention, the British regulator has warned....
...He served as chair of trustees of the National Gallery between 1985 and 1991 and chair of the Heritage Lottery Fund from 1994 until 1998....
...Calstrs to PE: Share the wealth Private equity executives have made a killing managing money for big investors such as US public pension funds....
...A quick aside to explain the GPFG reference. That stands for Government Pension Fund Global, the name of the actual fund (often just called “the oil fund” in Norway, or Oljefondet)....
...The chief executive of Canada’s influential Canada Pension Plan Investment Board told the FT’s Harriet Agnew and DD’s Will Louch, “people invest in private markets because of returns”....
...The immutable right of pension trustees to invest as they see best on behalf of their members runs through this debate....
...In a statement, Alecta said the impact of the US banking collapse would only “marginally” impact pensions for some of its members....
...Today, the interests of the 10.1mn members of private sector DB schemes are overseen by about 5,200 boards of trustees, their advisers and their managers....
...Data visualisation by Keith Fray Letters in response to this article: Pension fund assets could be made to work for benefit of all / From Rory Murphy, Chair of Trustees, Merchant Navy Officers Pension...
...Since taking the helm in 2018, Phillip has sought to strengthen internal procedures following criticism of CVT’s governance and the conviction of a former finance director for stealing funds....
...Mark’s pension contributions, of around £44,000, were refunded to Claire, while around £165,000 of the fund was returned to the employer....
...For defined benefit pension schemes, the part of the market that got into trouble, the proportion is probably higher....
...I have never thought too deeply about a pension. It feels insignificant because I am only thinking about the here and now. I have a company pension with Billion Dollar Boy, with £16,400 in my fund....
...But a register of individual shareholders’ names and addresses is what a lot of organisations representing the “retail shareholder” — that’s you and me, not pension funds and investment banks — have been...
...But Activision’s board could demand some sort of financial sweetener to extend the deal to allow for regulatory approval....
...The BoE is responsible for the orderly running of the gilt market, while TPR oversees scheme trustees and the FCA regulates asset managers....
...(Another was the liability-driven investing strategies that blew up in UK pension funds last autumn.)...
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