Public Pension

Friday SWFI News Roundup, August 26, 2016

GPIF Has Tought First Quarter with -3.88% Return Japan’s Government Pension Investment Fund (GPIF) got hit with a US$ 52 billion quarterly loss, a return of -3.88%, for its fiscal first quarter ended June 30. GPIF blamed the loss on a stronger yen which occurred after the United Kingdom voted to leave the European Union […]


UniSuper Extends Investment in Sydney Water Filtration Plant

UniSuper, a large superannuation fund, extended the term of its infrastructure investment in a Sydney water filtration plant to year 2035. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Possible Solution: Chinese Wealthier Pensions Could Support Poorer Ones

China’s wealthier coastal regions, benefiting from industrial production and trade, could end up partially subsidizing the less wealthy interior part of the country. A number of China’s provinces are experiencing widening pension gaps. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Are Institutional Investors Out of the Woods?

As institutional investors glaze over inflation expectations, many are mystified with the recent global equity rally. Wasn’t post-Brexit supposed to deliver a wave of chaos to markets? Should investors thank the Bank of England for its recent actions or was there over-panic regarding Brexit? Astonishingly, the Citi G10 Economic Surprise Index has risen to recent […]


3 Scary Themes in Smart Beta

In greater frequency, more institutional investors, both pensions and sovereign funds, have embraced some level of smart beta allocations. As more investors get into factor-based investing, it’s putting some strategies under pressure to perform. The Threat of Massive Inflows Typically, public pensions are conservative when analyzing new investment strategies. The herd mentality into smart beta […]


Opportunity Cost Model

Wells Fargo Asset Management to Acquire Analytic Investors, LLC

Wells Fargo & Co. inked a deal to acquire quantitative asset manager Analytic Investors, LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Ontario Teachers and Wind Point Partners Acquire Aurora Plastics

The Ontario Teachers’ Pension Plan (OTPP), in partnership with Chicago-based Wind Point Partners, is buying Ohio-based Aurora Plastics, Inc. from its founders. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Harvard

Harvard Management CEO Resigns

Stephen Blyth, the President and CEO of Harvard Management Company, has resigned for personal reasons, effective immediately. Blyth has been on medical leave since May 2016. Robert Ettl, Harvard Management Company’s chief operating officer, will continue to serve as interim CEO. David Barrett Partners, an executive search firm, has been hired to find a permanent […]


canada

PSP Investments and OTPP Buyout Santander in Cubico Sustainable Investments

The Public Sector Pension Investment Board (PSP Investments) and Ontario Teachers’ Pension Plan (OTPP) are going to acquire, in equal proportions, Banco Santander S.A.’s indirect interest in global renewable energy and water infrastructure company Cubico Sustainable Investments Limited, a London-based company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


SWFI First Read, July 25, 2016

Singapore Strategy, Robeco Plants Roots [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, July 22, 2016

CPPIB Exits Riocan Trust Property JV Riocan Real Estate Investment Trust will acquire the Canada Pension Plan Investment Board’s (CPPIB) interest in four properties. The trust will purchase CPPIB’s 50% interest for an aggregate purchase price of US$ 352 million. Sara Bonesteel Promoted to New Retirement CIO at Prudential [ Content protected for Sovereign Wealth […]


Is Brookfield Biting Off More Than it Can Chew?

According to data from the Sovereign Wealth Fund Institute (SWFI), increasingly asset owners such as sovereign wealth funds and large pensions have augmented allocation to unlisted infrastructure. The money flows have created bubbles in the world of private infrastructure, forcing asset owners, managers and other investors to pay more for infrastructure assets. Toronto-based Brookfield Asset […]


SWFI First Read, July 20, 2016

Philadelphia Pension CIO Passed Away Michael Donatucci, the newly-hired chief investment officer (CIO) at the Philadelphia Board of Pensions and Retirement, died on July 15, 2016. Donatucci was 30 years old. He joined the pension as CIO on June 1, 2016. He had been a client investment strategist at SEI Investments. Temasek Makes Offer to […]


Tough Year for CalPERS

The California Public Employees’ Retirement System (CalPERS) announced a preliminary net return of 0.61% for the fiscal year ended June 30, 2016, inferior compared to last year’s return of 2.4%. This is CalPERS worst performance since 2012. Similar to 2015, listed equities and private equity were asset classes that dragged performance, while infrastructure and fixed […]


CalSTRS

CalSTRS Approves $2.5 Billion Allocation to Low Carbon Index

The California State Teachers’ Retirement System (CalSTRS) investment committee moved to permit the allocation of US$ 2.5 billion of its equity portfolio to a low-carbon index strategy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CalPERS Appoints Marcie Frost as New CEO

The California Public Employees’ Retirement System (CalPERS) Board of Administration announced that Marcie Frost will be its new chief executive officer. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


South Africa’s PIC Kicks in $730 Million Toward Mortgages

South Africa’s Public Investment Corporation (PIC) which oversees the Government Employees Pension Fund (GEPF) invested 10.5 billion ZAR (US$ 730 million) in Durban-based SA Home Loans Ltd., the fifth largest mortgage provider in South Africa. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, July 13, 2016

OPTrust Embraces Smart Beta [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – July 8, 2016

HSBC Hires Paul Heffernan [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CDPQ Participates in Private Placement in Eurofins Scientific

Luxembourg-based Eurofins Scientific, a bioanalytical testing company, announces that it has privately placed 606,061 newly-issued shares with Caisse de dépôt et placement du Québec (CDPQ), at a subscription price of €330 per share, raising €200 million (US$ 224 million) of additional cash.