Public Pension

AIMCo Promotes Dale MacMaster as CIO

Alberta Investment Management Corporation (AIMCo), which manages a number of funds including Alberta’s Heritage Fund, has appointed Dale MacMaster as chief investment officer. MacMaster will report directly to AIMCo’s new CEO Kevin Uebelein, a former Pyramis executive. MacMaster was executive vice president of public market investments since 2012 at AIMCo. He also held roles in [...]

SWFI – Movers and Shakers – January 22, 2015

Paul Smith Named President and CEO of CFA Institute Paul Smith has been named President and CEO of the CFA Institute. Smith was managing director, APAC and global head of institutional partnerships at the CFA Institute. The global body of financial professionals decided to hire someone internally for the role. Smith succeeds Dwight D. Churchill, [...]

OTPP Lures China Sovereign Wealth Fund Executive to HK Office

The Ontario Teachers’ Pension Plan (OTPP) opened an office in Hong Kong back in September 2013. OTPP is keen on acquiring experienced talent in the region to assist in seeking out more direct investments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Afore Banamex Hires Managers for Asian Equities

Mexico City-based Afore Banamex has hired four asset managers to manage Asian equities. All four investment managers combined will oversee a mandate between US$ 500 to US$ 600 million. Increasingly, asset management firms are boosting staff and operations in Mexico. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]

SWFI – Movers and Shakers – January 14, 2015

Lagarde Appoints Chief Administrative Officer for the IMF Christine Lagarde, managing director of the International Monetary Fund (IMF), made notice of her intent to appoint Carla Grasso to chief administrative officer of the IMF. This is a new role. Grasso will start her new role on February 2, 2015. Grasso spent 14 years at Vale [...]

Gross Effect: NYC Retirement Terminates $4.9 Billion of PIMCO Assets

Two bond strategies managed by PIMCO for the New York City Retirement Systems (NYCERS) have been terminated. The fixed income strategies totaled US$ 4.9 billion in assets. The money was moved at the end of December 2014. US$ 3.5 billion was geared toward mortgage bond strategies and US$ 1.4 billion allocated to government-sector strategies. The [...]

3 Lessons Learned by Public Pensions in 2014

Hedge Funds Are Not Bad and Should Not Track Broad Market Indices For hedge funds, institutional investor enthusiasm has cooled, compared to pension fund interest in real assets such as infrastructure and properties. In 2014, the California Public Employees’ Retirement System (CalPERS) dumped its absolute returns program. Other pension funds are looking to reduce hedge [...]

Friday SWFI News Roundup, January 2, 2015

WCAS Closes on 12th Flagship Fund New York-based Welsh, Carson, Anderson & Stowe (WCAS) raised US$ 1.7 billion on December 29th for its first close on Welsh, Carson, Anderson & Stowe XII. This is the private equity firm’s 12th flagship fund. The fund plans for additional closes in 2015. WCAS Co-Founder Welsh worked at Citicorp [...]

MANDATES: Alaska Retirement Management Board Embraces Multi-Asset Strategies

The US$ 26 billion Alaska Retirement Management Board handed out US$ 400 million worth in mandates and US$ 250 million in private market commitments. The first mandate was awarded to State Street Global Advisors (SSgA) to manage a US$ 200 million allocation toward a U.S. equity-managed volatility strategy. The Alaska pension fund allocated US$ 200 [...]

Growing Group of Asset Managers Embrace the Adoption of Smart Beta

Smart beta strategies continue to gain significant ground among institutional investors such as sovereign wealth funds, pensions and other pooled retirement funds. Jokingly, a number of fundamental managers may perceive smart beta as the blackest black magic; however, it is garnering the short-spanned attention of asset manager chief executives. Recently, Victory Capital Management acquired the [...]

3 Things Family Offices Do Better Than Pension Fund Investors

Where do the super rich go to manage their money? Often times, the needs of wealthy people cannot be met with a financial advisor or bank, thus the creation of the family office – a vehicle reserved to manage the financial and personal affairs of a wealthy family. Microsoft founder Bill Gates, worth an astounding [...]

JP morgan

French Pensions Reserve Fund Hires 3 New Managers for Active Japanese Equities

Fonds de Réserve pour les Retraites (FRR), also known as the Pensions Reserve Fund, has awarded mandates to three fund managers to manage €450 million in active Japanese public equities. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

OPTrust Appoints Hugh O’Reilly as CEO and President

The Ontario Public Service Employees Union Pension Plan’s (OPTrust) board of trustees has appointed Hugh O’Reilly to be the next president and CEO – the 3rd in its history. O’Reilly is replacing William (Bill) Hatanaka who plans on officially leaving December 31, 2014. O’Reilly will start effective January 5, 2015. Hatanka, a former senior executive [...]

Friday SWFI News Roundup, December 5, 2014

QIA and Brookfield Up the Bid for Songbird Estates The Qatar Investment Authority (QIA) and Brookfield Property Partners have raised their joint bid for Songbird Estates, the entity that majority owns the Canary Wharf estate. The QIA and Brookfield displayed their new all-cash offer of 350 pence per share straight to shareholders. Both are current [...]

asset allocation

Betting on Europe: CalSTRS Makes Real Estate Fund Commitments

The California State Teachers’ Retirement System (CalSTRS) is making waves in European real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Wellington Wins Multi-Asset Strategy at NY State Common

The US$ 178.3 billion New York State Common Retirement Fund awarded a number of mandates, while handing out some investment manager terminations and reductions. The pension manager hired Wellington Management to oversee US$ 400 million in a multi-asset strategy. The fund is overseen by NY State Comptroller Thomas DiNapoli who was ranked #7 on the [...]

Superannuation Watch: Cbus Looks to Hire More Internally

Cbus, an industry super fund for the construction, building and allied industries, is boosting the size of its internal investment staff. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Mexican Afores Opening Up to International Equities

The Mexican afore market was once a small institutional investor market, neglected by fund managers and made up of funds focused exclusively on Mexican government debt. As a decade passes and Mexican pesos flood these retirement funds, the need for portfolio diversification has amplified, prompting regulators to allow overseas equities. In 2011, CONSAR also known [...]

emerging markets sovereign wealth funds

Probable End for Private Hungarian Pensions

Many Central European countries are facing a dire demographic crisis due to, shrinking working populations, low birth rates and swelling cohorts of older generations. In addition, several of the welfare states in the region, struggle with sustainable long-term economic growth and attracting stable levels of foreign direct investment. A potential source of capital for many [...]

CRUISING: TRS Gets Exposure to Car Dealerships in America

The Teacher Retirement System of Texas is allocating US$ 200 million for a 30.5% interest in a fund to get exposure to car dealerships across America. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]