September 2019

27Sep

Japan. Investors Await Naming of CIO at World’s Largest Pension Fund

Japan’s Government Pension Investment Fund will likely announce next week whether its chief investment officer will continue to manage the monolith’s $1.48 trillion in assets. Hiromichi Mizuno, whose term will end on Sept. 30, captained sweeping changes to the investment strategy of the world’s largest pension fund over the past five years. He became the GPIF’s first CIO in January 2015, overseeing the fund’s shift to stocks from domestic debt, while advocating assets that incorporate environmental, social and governance...

September 27, 2019
News, Slider, , ,
Read more...
27Sep

Australia. Super and pension budget measures in firing line of retirement review

The next increase in compulsory superannuation and a string of budget savings measures that have crimped retirees' incomes will be investigated in the first comprehensive review of the nation's retirement income system in 30 years. Treasurer Josh Frydenberg on Friday released the terms of reference for the inquiry, which will cover the age pension, voluntary savings including the family home, aged-care funding, franking credits and the role of the powerful $2.9 trillion superannuation industry. The wide-ranging review would examine...

September 27, 2019
News, Slider, , ,
Read more...
26Sep

EU. Pensions Inadequacy: The High Fees Often Charged By European Pension Providers Prevent Many EU Citizens From Enjoying A Decent Retirement

For the seventh year in a row, BETTER FINANCE embarked on the herculean task of gathering all the data on private pensions in 17 EU Member States and published its annual report on the real net returns of long-term and retirement savings in Europe. Despite the fact that the European Supervisory Authorities (ESAs) have a legal duty to collect, analyse and report data on “consumer trends” in their respective fields, the “Pension Savings – The Real Return” Report remains...

September 26, 2019
News, Slider, ,
Read more...
25Sep

Ghana Pension Funds Are Shielded From Crisis-Hit Ghana. Money Managers

Ghana’s pension funds are safe from the crisis engulfing money managers caught in the aftermath of a banking-industry cleanup. “The only way some may have been affected is if they made fixed-term investments with some of the banks that were shut down,” Hayford Attah Krufi, chief executive officer of the National Pensions Regulatory Authority, said in an interview. “But, because the government bailed out depositors, those investments are still safe.” The West African nation’s markets regulator is investigating 21...

September 25, 2019
News, Slider, , ,
Read more...
24Sep

Namibia.Pension funds’ trustees not independent

The financial regulator revealed this in their 2019 annual report, noting that there is a presence of conflict of interest in some pension funds, while the composition of certain boards of trustees was not in line with fund rules. According to Namfisa, there were 134 pension funds under their watch as of 31 December 2018, with a combined value of N$158 billion. Namfisa is mandated to regulate and supervise financial institutions as well as to ensure a safe, stable...

September 24, 2019
News, Slider, , ,
Read more...
11Sep

Government’s plan to go after pension funds could financially ruin South Africans

Analysts and opposition parties have warned against government’s plans to force pension funds to invest in bonds issued by government. In August, president Cyril Ramaphosa said that South Africa should investigate using worker pensions to finance development and infrastructure projects. “We need to discuss this matter (prescribed assets) and we need to discuss it with a view to actually saying what is it we can do to utilise the various resources in our country to generate growth in a...

September 11, 2019
News, Slider, , ,
Read more...
06Sep

It’s Going to Get Harder for Australian Pension Funds to Make Money

Australia’s pension funds will be forced to push more money into less traditional assets -- such as apartment developments and even direct lending to companies -- after the strong recent performance of equities and fixed-income left valuations lofty in public markets. That’s the assessment of investors managing money directly for, or on behalf of, the country’s A$2.9 trillion ($2 trillion) pension pool, who gathered in Hobart this week. With four out of five retirement savers in funds that have a...

September 6, 2019
News, Slider, , ,
Read more...
05Sep

South Africa. How SA Can Create a Safe and Sustainable Environment for Retirement

Socially responsible investing is a topic that still does not get the necessary attention in the retirement fund industry. This is despite the fact that Boards of Trustees and Management Committees of retirement funds have a clear fiduciary duty in this regard. Corporate failures related to a lack of proper governance have destroyed close to R800 billion in value for retirement fund members in recent times. Uncertainties related to government policies such as prescribed assets have become an additional...

September 5, 2019
News, Slider, , ,
Read more...
04Sep

Giant Norway pension fund weighs Brazil divestment over Amazon deforestation

KLP, Norway’s largest pension fund, with over US$80 billion in assets, is saying it may divest from transnational commodities traders operating in Brazil such as Archer Daniels Midland (ADM), Bunge and Cargill, if they work with producers who contribute to deforestation. KLP has $50 million in shares and loans with the firms. KLP is also reaching out to other investors to lobby them to use their financial influence to curb Amazon deforestation via supply chains. On August 28, Nordea,...

September 4, 2019
News, Slider, , , , ,
Read more...
04Sep

Secrets to Success in Managing a Pension Fund

How often does it happen that a public pension fund chooses someone to manage its money — and then sticks with that person for 43 years? Only one streak I know of has lasted this long. The Atlanta-based investment counseling firm Bowen, Hanes and Company Inc., run by Jay Bowen, has received national acclaim for its long tenure overseeing the Tampa Fire and Police Pension Fund. Bowen, who is both chief executive and chief investment officer of his firm,...

September 4, 2019
News, Slider, ,
Read more...