September 2022
15Sep

US. State treasurers, NYC react to ESG backlash

An open letter signed by 13 state treasurers and New York City's comptroller Wednesday takes aim at what they call the "political backlash" against ESG investing by public pension and related funds. "Several states in our country have started blacklisting financial firms that don't agree with their political views," said the letter signed by state treasurers from California, Colorado, Delaware, Illinois, Maine, Massachusetts, Nevada, New Mexico, Oregon, Rhode Island, Vermont, Washington and Wisconsin, and New York City Comptroller Brad Lander,...

September 15, 2022
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14Sep

Florida pension fund report shows support for ESG proposals, including at Exxon

Pension fund supported more than 40% of social-related proposals amid anti-ESG resolution Florida State Board of Administration, Tallahassee, voted in favor of more than 40% of social-related shareholder resolutions and nearly 30% of environmental-related shareholder resolutions during the fiscal year ended June 30, according to a report included with materials for the board's investment advisory council on Tuesday. The board, which oversees $228 billion in assets including the $180 billion Florida Retirement System, supported 50.1% of shareholder-proposed ballot resolutions at Russell...

September 14, 2022
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14Sep

Prudential and MetLife entrusted to fulfill $16B in pension obligations for 100,000 IBM retirement plan participants and beneficiaries

Prudential has been selected to participate in a $16 billion pension risk transfer transaction with International Business Machines Corporation (IBM), the second-largest pension risk transfer ever in the U.S. market. Under the terms of the agreement, The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. (NYSE: PRU), and Metropolitan Life Insurance Company (MLIC), a subsidiary of MetLife, Inc. (NYSE: MET), will each insure 50% of the pension benefit payments for each of the approximately 100,000 IBM...

September 14, 2022
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14Sep

UK. Communications around pensions branded ‘as dull as dishwater’

Business magnate Deborah Meaden urges companies to up their game Poor communications that fail to engage people with their pension savings are hampering both the uptake of greener pension options and companies’ willingness to promote them, says Deborah Meaden. Speaking at a Make My Money Matter (MMMM) event yesterday (12 September) the entrepreneur and businesswoman said companies "need to open about their definition of sustainability". Meaden appeared alongside MMMM co-founder and film producer Richard Curtis where she discussed her long-standing commitment to...

September 14, 2022
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09Sep

Dutch pension funds sell $92.3 billion in assets, partially related to interest-rate hedges

Dutch pension funds sold €88 billion ($92.3 billion) in assets in the first six months of the year, in part to meet payments required under derivatives contracts, De Nederlandsche Bank said. Pension funds using derivatives contracts to hedge against interest rate rises have faced increased collateral calls due to rising rates, since the price of bonds has fallen in tandem. DNB said in an update Thursday that pension funds contributed €82 billion to margin accounts in the first six months of...

September 9, 2022
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09Sep

South Africa. EPPF confirms repayment of R30m in Brian Molefe pension order

Molefe is applying for leave to appeal the high court judgment requiring him to return R10m to the fund, possibly delaying resolution of the matter: Lorato Aphiri – Legal Advisor, Eskom Pension and Provident Fund. FIFI PETERS: Let’s shift on to the latest happenings coming out of the Eskom Pension and Provide Fund. They’ve said that the former Eskom boss, Brian Molefe, is still not paying back the money that is owed to the pension and provident fund. This relates...

September 9, 2022
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09Sep

Designing Successful Target Date Strategies for Defined Contribution Plans

By Schaus, Gross The ultimate guidebook for navigating the new world of pensions and retirement plans In the wake of the explosive growth of defined contribution (DC) plans invested with target date strategies, and the understanding of how important these strategies can be in effectively meeting retirement income goals, plan sponsors are seeking more optimal target date approaches. This timely book provides you with in-depth answers from the nation's most qualified and experienced experts to pressing questions about DC plan design. Read...

September 9, 2022
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07Sep

Reducing portfolio volatility is top priority for European pension funds

European pension funds say reducing absolute portfolio volatility is their top risk management priority, as geopolitical tensions and high inflation continue to impact global investment markets. This is according to new research from Alpha Real Capital. Nearly half (46%) of European pension fund professionals interviewed, who collectively manage €324 billion in assets under management, say increasing portfolio diversification is their top strategic asset allocation priority. Meanwhile, more than a quarter (28%) of respondents say their priority is to increase expected...

September 7, 2022
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06Sep

Strong dollar boosts some plans, but hurts others

A stronger dollar made U.S. funds the standout performers in Pensions & Investments and Willis Towers Watson PLC's Thinking Ahead Institute's latest tally of the world's 300 largest retirement funds, and made itself felt across a range of key survey results. For example, in prior surveys, bigger retirement funds consistently outperformed smaller funds. And for the five years ended Dec. 31, the 20 biggest retirement funds had annualized gains of 8.8%, ahead of the broader 300's 8.5% gains. But with currency...

September 6, 2022
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06Sep

The world’s largest retirement funds: 2022

Ranked by total assets, in millions. U.S. fund data are as of Sept. 30, 2021, from the P&I 1,000, published Feb. 14; non-U.S. fund data are as of Dec. 31, unless otherwise noted. Defined benefit and defined contribution breakouts were not available or applicable to all non-U.S. funds. Rank Fund Country Assets DB assets DC assets 1 Government Pension Investment Japan $1,730,900 $1,730,900 2 Government Pension Fund Norway $1,437,111 3 National Pension South Korea $797,968 $797,968 4 Federal Retirement Thrift U.S. $774,176 $774,176 5 ABP Netherlands $630,358 $630,358 Read More @Pionline 621 views

September 6, 2022
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