Letter from the US
In the line of fire
01 Feb 2012
The $225bn (€177bn) California Public Employees’ Retirement System (CalPERS) used to be considered a leader in setting new trends, such as investing to improve companies’ corporate governance or to...
Hedge funds face clip
03 Jan 2012
Hedge funds enjoyed record inflows in 2011 as new assets from US pension funds poured into their coffers. But it was also a horrible year for their performance and investors put a lot of pressure on...
Investing for impact
01 Dec 2011
“When traditional investors look at impact investing they sometimes think they have to sacrifice returns. Fortunately, there are many examples of impact investing that lead to both competitive...
Saving, the Texas way
01 Nov 2011
Galveston County, Texas, is no longer famous solely for the hurricane that devastated the area killing an estimated 8,000 people in September 1908, the deadliest natural disaster ever to strike the...
Consensus elusive
01 Oct 2011
The US retirement system might change dramatically by year’s end; or pension reform could be postponed again until after the 2012 presidential election. Either way, the debate about how to prevent...
Bonds defy downgrade
01 Sep 2011
US pension funds are reassessing their fixed income investment policies after Standard & Poor’s downgraded the US rating from AAA, despite the fact that the new AA+ rating did not force them...
A labour of love
01 Jul 2011
This is a busy time for pension fund professionals in the US as they try to figure out the impact of new rules issued by the department of labor (DoL) on fee disclosure and fiduciary responsibility....
Battle to stave off crisis
29 May 2011
Andrew Cuomo is one of the most admired recently-elected state governors – pri-
marily for his efforts to get the budget under control and bring taxes down. Two years ago, when he was New York...
Making DC kings
01 May 2011
Fidelity is still the king of the US retirement market, at number one among the defined contribution (DC) plans with over $940bn (€651bn) of assets in custody as record keeper at the end of 2010, 12% ...
State debate hots up
01 Apr 2011
The debate about US public employees’ pension benefits is hotting up, and the results will have a great impact on the pension fund industry. For the first time there is a discussion about the real...
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