S&P to Spotlight ESG Risk in Corporate Debt

SS&P Global Ratings will add a new emphasis on environmental, social and governance (ESG) evaluations of corporations within its issuer credit rating reports. “What we are doing is making it easier for a reader [of our reports] to find any credit-related ESG factors that are driving the credit rating,” said Nicole Martin, senior director, sustainable …

CTPF Jumps In:

Investors’ Long Day’s Journey into Africa Investing Continues The approximately $11 billion Chicago Teachers’ Pension Fund (CTPF) evidently was attentive and took careful notes as part of a delegation of investors that visited South Africa in the spring of 2017, and Senegal and South Africa one year later. The upshot: At its Jan.17 board meeting, …

Asset Owner Profile: Chicago Teachers’ Burbridge Driven to Keep a Promise

Charles “Chuck” Burbridge is executive director of the approximately $11 billion Public School Teachers’ Pension and Retirement Fund of Chicago (Chicago Teachers or CTPF). Boasting a 40-year-plus professional career in economics, finance and academia (he was twice an adjunct professor), Burbridge has witnessed myriad changes in pension fund administration and investment, lending him a clear-eyed perspective acquired only by long service. It’s the kind …

San Diego Targets Full Funding; Joins Other Cal. Funds in Goosing PayDowns

With a goal of hitting a 100% funding, the San Diego City Employees’ Retirement System (SDCERS) has adopted a new unfunded actuarial liability (UAL) contribution floor amortization for the City of San Diego and the Port of San Diego pension plans. This new UAL contribution floor amortization method complements the existing 15-year amortization period for …

The Winter 2019 edition of Market Group’s Quarterly Institutional Allocator is Here!

The Winter 2019 edition of Market Group‘s quarterly magazine, Institutional Allocator,  is here! Click here to download the magazine Welcome to Volume 2 Edition 1 of Institutional Allocator’s quarterly magazine. For this quarter’s cover story of IA, Editor Mark Fortune and Managing Editor Leslie Kramer took a look at the state of U.S. pension plans’ funding status, …

Johns Hopkins Investment Officer Exits, Enrolls at Penn State

Jim Steinbugl, an investment officer who worked on private equity and other asset classes at Johns Hopkins University’s endowment, has departed the endowment to join Penn State University’s endowment, David Branigan, chief executive officer, Office of Investment Management at Penn State, confirmed.  “Yes, we hired Jim into a new position a couple of weeks ago,” …

Corp. Pension Plans Must Explore Risk Strategies for a Volatile 2019, Consultants Say

With stock market volatility currently high and trade war fears still in the air, consultants and asset managers are looking to 2019 as a year when corporate defined-benefit pension plans will need to review their risk assets, evaluate new investment strategies and focus more on matching their assets and liabilities. “Looking forward to 2019, we …

Zero Correlation Between Level of Public Pension Benefits, Plans’ Funded Status: Milliman

The results of Milliman’s 2018 Public Pension Funding Study (2018 PPFS), which analyzes funding levels of the nation’s 100 largest public pension plans–including an independent assessment on the expected real return of each plan’s investments–revealed no correlation between the level of benefits provided by plan sponsors and the funded status of a plan. It also …

CIO Albright’s TRS Philosophy Boils Down to Three I’s: Invest, Innovate and Impress

Jerry Albright, chief investment officer of the Teacher Retirement System of Texas (TRS), had a private sit down with members of Institutional Allocator’s editorial team when they flew down to Austin to attend Markets Group’s 6th Annual Texas Institutional Forum. Institutional Allocator’s Managing Editor Leslie Kramer later followed up with Albright to find out more about his …

New Tax Law & Increased Discount Rate Impact Year- End Corporate DB Funding Status

The estimated aggregate funding level of the 1,500 defined benefit pension plans listed on the S&P Composite 1,500 Index, year-end 2018, increased to 85 percent from 84 percent, at the end of 2017, according to data compiled by Mercer. The reason for the rise in funding levels may be two-fold. Deep drops in the equity …