August 2023
29Aug

US. North Carolina Retirement Systems discloses $500 million in commitments

North Carolina Retirement Systems, Raleigh, committed a total of $500 million to private equity and inflation-sensitive asset funds. The $114.6 billion pension fund disclosed the commitments in a report included with the Aug. 23 investment advisory committee meeting materials on the website of Dale R. Folwell, state treasurer and sole trustee of the retirement system. The commitments closed in June and July of this year, according to the report. Within private equity, NCRS committed $150 million each to Hg Titan 2...

August 29, 2023
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28Aug

Canada is burning, so why is our national pension fund still heavily into fossil fuels?

By: Patrick DeRochie   Patrick DeRochie is the senior manager of Shift Action for Pension Wealth and Planet Health, a charitable project that tracks the fossil fuel investments and climate policies of Canadian pension funds, and mobilizes pension beneficiaries to engage fund managers on the climate crisis. As Canada experiences a record-shattering summer of deadly extreme weather, it’s worth remembering that our national pension fund has poured much of our retirement savings into the primary cause of the climate crisis: fossil fuels. In...

August 28, 2023
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25Aug

Sustainable funds return to outperformance in reversal of 2022, says report

Sustainable funds beat traditional funds in the first half of 2023, helped in particular by a rebound in growth stocks, according to research from Morgan Stanley. In a report, the bank’s Institute for Sustainable Investing said the median return for sustainable funds in the first half of this year was 6.9% and traditional funds’ 3.8%. Structural market factors were more favourable to sustainable funds’ positioning in the first half of 2023, according to the report. In 2022, a rapid rise in...

August 25, 2023
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25Aug

Canada’s Largest Pension Fund Invests in Reforestation Project in the Amazon

Canada Pension Plan Investment Board has joined a project led by Mombak Gestora de Recursos to produce carbon credits through reforestation efforts in Brazil’s Amazon region. The Canadian pension fund will invest up to US$30 million in Mombak’s reforestation fund, which aims to reach a target of US$100 million. The investment reflects a growing demand for carbon removal projects in voluntary carbon markets, as buyers increasingly favor initiatives that actually remove carbon rather than simply avoiding emissions. Mombak plans...

August 25, 2023
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23Aug

UN pension fund flags climate risk on ALM and performance

In a nod to headwinds including climate change, evolving demographics, and the future economic outlook the $85.5 billion United Nations Joint Staff Pension Fund, UNJSPF, will use a slightly lower real rate of return on investments to inform its upcoming actuarial valuation. The 2023 ALM study will consider various scenarios for the future, including those incorporating climate risk. The 2023 ALM study will consider various scenarios for the future, including those incorporating climate risk. Under a baseline scenario based on moderate...

August 23, 2023
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23Aug

US. CalPERS CIO Nicole Musicco says pension fund taking cautious approach to China

The California Public Employees' Retirement System is being cautious in its approach to China because of the political blowback it could face for betting on a geopolitical rival of the U.S., according to Chief Investment Officer Nicole Musicco. "We're being mindful about our exposure in China right now," Ms. Musicco said during an episode of "Bloomberg Wealth with David Rubenstein" — and she added that the pension fund giant is taking pains to "avoid having any big losses if we...

August 23, 2023
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22Aug

ESG investing by pension funds in Africa is not a demand problem

Africa’s value tomorrow will be, in large part, determined by what is preserved today. The investment world is locked in a raging debate around “values vs value” in financial returns consideration. Opponents of ESG investing approaches believe that it is primarily the role of governments to fight climate change. Their responsibility, they contend, is to maximize shareholder returns, climate concerns notwithstanding. After all, government taxes them. The missing link in this argument is optimization. Portfolio optimization, the objective of...

August 22, 2023
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21Aug

Australia’s $1.5 trln pension sector invests in debt again

Australia's A$2.4 trillion ($1.54 trillion) pension sector grew its investments in local and foreign debt by more than A$20 billion over the past year as higher yields burnished an asset class overlooked in a country where equities traditionally rule. The two largest pension funds grew fixed income investments in their primary vehicles, holding bulk of the pensions, in the last financial year. For the A$300 billion AustralianSuper, the country's largest fund, its fixed income allocation hit the highest level since...

August 21, 2023
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18Aug

US. NYC Comptroller Lander & Pension Fund Trustees Warn Entertainment Giants that They Risk Losing Investor Confidence over Prolonged Strikes

The trustees of the five New York City pension funds, led by New York City Comptroller Brad Lander, sent letters to the Chief Executive Officers of Disney, Paramount, and Chairman and Chief Executive Officer of Comcast, urging them to address the ongoing strikes by the Writers Guild of America (WGA) and Screen Actors Guild–American Federation of Television and Radio Artists (SAG-AFTRA) today. The ongoing WGA and SAG-AFTRA strikes have paralyzed major television and film productions in New York City and across the...

August 18, 2023
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18Aug

How to protect your retirement assets from inflation: Morningstar

Inflation is a buzzkill for personal finances, lowering the value of your savings and raising your spending levels. That’s especially an issue for retirees, who often have limited resources and may need them to last a long time. While inflation peaked in June 2022 at 9.1%, it still stood at 3.2% in July. That’s well above the Federal Reserve’s target of 2%. Christine Benz, director of retirement planning for Morningstar, has offered commentary on how to protect your retirement assets. At the portfolio...

August 18, 2023
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