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Hewitt completes EnnisKnupp acquisition
Global Pensions | 02 Sep 2010
US – Hewitt Associates has completed its previously announced acquisition of US consulting firm Ennis Knupp.
Corporate pension deficits hit all-time high
US – Pension plans of S&P1500 companies are shouldering deficits of a combined $506bn, the largest recorded deficit in their history, according to data by Mercer.
Japan pensions seek roads, ports assets as population ages
JAPAN - Japanese pension funds are starting to invest in toll roads, ports and pipelines for the first time, seeking higher returns to meet the retirement needs of the world’s fastest-aging population.
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Indiana schemes name first joint CIO
US – David Cooper has been named chief investment officer of Indiana’s two largest pension plans, a further step in merging the operations of two schemes with $22bn in combined assets.
California lawmakers send Schwarzenegger pension-padding curb
US - California lawmakers approved two bills to prevent government employees from increasing the amount of their pensions by padding their pay before retirement.
O’Brien resurfaces at J.P. Morgan Asset Management
UK/GLOBAL – J.P. Morgan Asset Management has hired Mike O’Brien, BlackRock’s former head of institutional business for EMEA, as its global head of the institutional client group.
GPIF sheds $42bn in quarterly market loss
JAPAN – Japan’s $1.4trn Government Pension Investment Fund (GPIF) returned -2.94% in the quarter ended June 30, equating to a loss of $42bn in assets.
CalSTRS, CalPERS lawsuit: Furlough violates state constitution
US – CalSTRS and CalPERS have jointly filed a law suit claiming the California governor violated the state constitution when he put in place a three day per month furlough and wage cuts.
SEC gives shareholders more say over board make-up
US – The Securities and Exchange Commission yesterday approved new proxy rules that give shareholders more say over who sits on corporate boards.
ATP delivers “surprisingly good” returns
DENMARK – Danish pension provider ATP returned 4.2% in the first six months of the year in part because of strong domestic equity and private equity returns.
Nikko hires ex-MSIM Asia chief Pickerell
ASIA – Nikko Asset Management has hired the former Morgan Stanley Investment Management chief executive for Asia to help the Japanese firm continue to expand throughout the region.
MOSERS up 14.3% over year
US – The Missouri State Employees’ Retirement System (MOSERS) returned 14.3% for the year ended June 30 with returns driven in part by strong performance in emerging markets.
Norway sheds investments in three firms - UPDATED
NORWAY - The Norway Pension Fund Global has divested from two Israeli companies and a Malaysian business claiming the firms engage in “grossly unethical activity”.
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Investors losing out from high FX fees - Updated
US funded status holds steady at 80%
Funds sue over mortgage pass-through certificates
Dutch OPF threatens government with legal action
Falling markets lead to summer of discontent