KRS Seeks EM, U.S. Micro-Cap and Distressed- Opportunities Managers

The Kentucky Retirement Systems (KRS), which includes the Kentucky Employees Retirement System, the County Employees Retirement System, and the State Police Retirement System, is seeking several new managers in various classes as it shakes up its investment portfolio, according to Rich Robben, who in February was named chief investment officer (CIO) of the Kentucky System, effective April …

Renewables Dominate Infra Sector as ESG Resonates with Investors

Renewable energy deals heated up the infrastructure sector last year, as investors sought to put an Environmental, Social Governance (ESG) focus on more of their investment portfolios. The trend should continue this year, according to Patrick Adefuye, head of real assets at research firm Preqin. Europe has been leading the charge in renewable deal offerings, but …

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 …

San Diego Targets Full Funding; Joins Other Cal. Funds in Boosting 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 …

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 …

California County System Poaches NY Common’s Sr. Invest. Officer Tucker

Reginald D. Tucker, senior investment officer of opportunistic investments and absolute return strategies at the New York Common Retirement Fund (NYCRF), is leaving his post after five years to join The Orange County Employees Retirement System (OCERS) in a newly created managing director position, he confirmed. At OCERS, he will continue to source investments across all asset classes …

CalPERS’s Departing Board Prez Priya Mathur on New Initiative to Address Workplace Sexual Harassment

A coalition of trustees, which includes the California Public Employees’ Retirement System (CalPERS), the California State Teachers’ Retirement System, (CalSTRS), the Los Angeles County Employees’ Retirement Association (LACERA) and the Los Angeles City Employees’ Retirement System (LACERS), have launched the Trustees United Principles. Priya Mathur, outgoing board president of CalPERS, told IA that the principles …