Public Pension

CalPERS Reports Preliminary 11.2% Return For FY 2016-17

The California Public Employees’ Retirement System (CalPERS) reported a preliminary annual return of 11.2% for its latest fiscal year ended June 30, 2017. CalPERS beat last fiscal year’s return of 0.61%. Listed equities for the latest reported fiscal year reported a return of 19.7%, an asset class that benefited from the late 2016 rally. In […]


SWFI – Movers and Shakers – July 14, 2017

Jerry Albright Takes CIO Helm at TRS Jerry Albright, the Deputy CIO of the Teacher’s Retirement System of Texas (TRS), was promoted to CIO following the departure of Britt Harris to UTIMCO. Fidelity Investments to Layoff Hundreds, Rejigs Fidelity Investments boasts more than 44,000 employees. The money manager is laying off hundreds of employees (news […]


Daniel Garant Resigns from PSP Investments

Daniel Garant, the Chief Investment Officer of Canada’s Public Sector Pension Investment Board (PSP Investments), has resigned from his position. Garant was hired by PSP Investments in September 2008. Before PSP Investments, he was with Hydro-Québec. From 1991 to 1997, Garant was a Senior Manager in Private Equity at Caisse de dépôt et placement du […]


Losing Key Clients, Lombardia Capital Partners Shutters

Pasadena-based Lombardia Capital Partners closed its doors as the money manager saw its assets shrink to roughly US$ 1 billion in assets under management, making it hard for the money manager enterprise to be profitable. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Japan’s GPIF Benefited From 2016 Year-End Equity Boost

Japan’s Government Pension Investment Fund (GPIF) generated a 5.86% annual return for its latest fiscal year. With GPIF moving more money into equities over the past few years, the timing appeared to pay off at the end of 2016. Equities Rallied GPIF reached a record 144,903.4 billion JPY (US$ 1.302 trillion) in assets. The pension […]


Korea’s NPS to Acquire Signature Towers through IGIS Asset Management

IGIS Asset Management (IGIS) acquired Signature Towers, a 17-storey office building Seoul, for US$ 635 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Permodalan Nasional Backs Lotte Chemical Titan Holdings

Malaysia-based Lotte Chemical Titan Holdings Sdn Berhad, an integrated petrochemical producer, is having its initial public offering, pricing it at 6.5 MYR per share, raising 3.77 billion MYR (US$ 878 million) in its IPO. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Infracapital Sells Isle of Wight Ferry Operator to Pension Funds

Infracapital, a division of M&G Investment Management Limited and M&G Alternatives Investment Limited, has sold a 100% equity stake in Isle of Wight ferry operator Red Funnel to a group of institutional investors. Infracapital had owned the ferry operator since 2007. The investor group was led by West Midlands Pension Fund and the Workplace Safety […]


esg institutional investor

GPIF Adopts Three New ESG Indices

Japan’s Government Pension Investment Fund (GPIF) is continuing its push to embrace ESG factors, as the public fund giant expands its ownership into equities. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


The Hartford Redirects $1.6 Billion in Pension Liabilities to Annuity

Increasingly, large U.S. financial corporations are looking to reduce long-term pension obligations. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Google’s Big EU Fine Reemphasizes Regulatory Risk for Tech Companies

Alphabet Inc., parent company of Google and worldwide tech giant, has a market capitalization of more than US$ 639 billion as of late June. Just about every institutional investor, such as pensions and sovereign funds, exposed to a passive index probably has a high allocation to Alphabet stock. In addition, according to the latest research […]


In 5-4 Decision, Supreme Court Rejects CalPERS Class Action Argument

A groundbreaking court decision may prompt investors such as endowments, pensions, and sovereign funds, to pay closer attention to future securities class-action cases in order to not miss out on financial recoveries. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Equip Super and Rio Tinto Super Agree to Merge

Equip Super Pty Ltd and the Rio Tinto Staff Superannuation Fund held talks in the beginning of the year to merger. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Britt Harris Named CIO of UTIMCO

Thomas Britton Harris IV (known as Britt) was named President and Chief Investment Officer at University of Texas Investment Management Co. (UTIMCO), effective August 1, 2017. Harris is leaving the Teachers’ Retirement System of Texas (TRS) as chief investment officer. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


How Big Would DC Assets Be After the Amazon and Whole Foods Merger?

E-commerce giant Amazon made a bold move to acquire Whole Foods for US$ 13.4 billion. Whole Foods was facing pressure from activist investors such as Jana Partners, the second largest shareholder in the company. Whole Foods shareholders still have to approve the deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]


Japanese Bellwether GPIF Requests Managers to Reveal Proxy Votes

Japan’s Government Pension Investment Fund (GPIF) has requested its external fund managers to reveal details of proxy shareholder votes that they exercise on behalf of the fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sweden’s AP7 to Dump 6 Firms Over Paris, Will Others Follow?

Announced earlier in the day on June 15th, Sjunde AP-fonden (AP7), one of Sweden’s buffer funds, had decided to withdraw its investments in ExxonMobil, Russia-based Gazprom, TransCanada Corporation, Westar Energy, Entergy and Southern Corporation. “Since the last screening in December 2016, the Paris agreement to the U.N. Climate Convention is one of the norms we […]


Jay Jacobs Rotated Out of PIMCO Leadership

Bond giant Pacific Investment Management Co. (PIMCO), owned by Germany’s Allianz, is again reshuffling deck chairs on the executive ship. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Linked NPS Executives Tied to Samsung Merger Shenanigans Get Sentencing

The former South Korean Health Minister Moon Hyung-pyo was sentenced by the Seoul Central District Court to 2.5 years of prison time. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CalSTRS is Done with Thermal Coal Companies

On February 3, 2016, the Board of the California State Teachers’ Retirement System (CalSTRS) voted to divest from U.S. thermal coal companies. Fast forward to June 2017, the CalSTRS board has now voted to divest from all non-US thermal coal holdings, effective July 1, 2017. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]