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New Mexico rejigs domestic equities
The investment committee of the New Mexico Public Employees Retirement Association approved a domestic equities restructure at a meeting last week. Amanda White spoke with the two joint acting CIOs, Joelle Mevi and Julian Baca, about the changes to the portfolio and the plans for the year including a fixed income and international equities review.
NYCRS CIO focuses on the achievable
Reducing equities, expanding the resources and changing the RFP process are on the agenda of New York City Retirement System (NYCRS) chief investment officer, Larry Schloss, as he makes structural and investment changes to turn the $123-billion fund around. Two and a half years in to what is most likely only a four-year tenure –
Financial system robust but geopolitics poses threat: Bernanke
Former Governor of the US Federal Reserve, Ben Bernanke, says there are no foreseeable shocks to the financial system. In any case, he says, the system itself is so much more robust than it was before the crisis, that it could weather the storm. The only possible cause for concern is geopolitical risk. Risk
CalPERS warns on pension reforms
CalPERS has raised concerns that California Governor Edmund G. Brown Jr’s plan for a hybrid defined contribution (DC) and defined benefit (DB) public pension system could lead to a more conservative investment strategy and threaten the actuarial soundness of its existing DB scheme. The $225.2 billion fund released a working paper on Governor Brown’s 12-point
Worldwide diversity in funded pension plans
There is a huge diversity in pension system design across the globe, reflecting historical, cultural and institutional diversity. There is much to be learned by each of the different systems, so in order to compare the benefits of various systems, two authors from APG in the Netherlands postulate a new classification of four role models
Jockey Club to place its bets on distressed funds
The US$7 billion Hong Kong Jockey Club fund is looking to invest in the new year into some secondary private equity and distressed debt and equity funds, to take advantage of opportunities presented by the global financial crisis.
Oregon’s private equity future
Oregon State Treasury is one of the longest-standing investors in private equity but as allocations pushed beyond the outer policy limit and a maturing asset class puts pressure on returns, a recalibration was necessary. Amanda White spoke to Oregon State Treasurer, Elizabeth Steiner, about the future of private equity.
Investors have more than just voting in their engagement armoury, study finds
Institutional investors are using just a fraction of the “weapons” they have at their disposal when they engage with companies, and need to use the entire proxy proposal process better, Rob Bauer told attendees at a recent PRI conference.
CalPERS gearing up for global push into private markets
Building the expertise for direct investment in global real estate and infrastructure is a priority for the new CIO of the United States’ largest pension fund. Nicole Musicco spoke to Amanda White in an exclusive interview at the Fiduciary Investors Symposium.
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