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 …

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 …

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 …

Asset Owner Spotlight: Robert “Vince” Smith, CIO, New Mexico State Investment Council

Institutional Allocator Managing Editor Leslie Kramer spoke recently with Robert “Vince” Smith, chief investment officer of the New Mexico State Investment Council (NMSIC), a sovereign wealth fund, based in Santa Fe, NM, with a $24 billion permanent endowment.  Smith shared his career trajectory leading to his current job, his passion for his work, the Council’s …

The Future of Obligations-Based Investing, Preserving DB Benefit Plans

Panelists at Markets Group’s Sixth Annual Texas Institutional Forum, in Austin, gathered together to tackle the pros and cons of implementing obligation-based or liability-driven investment (LDI) policies at pension funds. The discussion was predicated on the idea that the typically complicated process of administering the investments of a pension plan can be simplified, somewhat, by focusing on a fund’s …

Endowment CIOs Score Seven Percent-Plus Pay Growth: Skorina

The typical endowment chief investment officer’s (CIO) pay has been growing at a compound rate of more than seven percent per year, according executive search firm Charles A. Skorina & Company. In a report published by the firm last week that updates its previous report on CIO compensation published last month (IA, 11/8), the firm says …

Cal. State’s Controller Betty Yee Speaks from her Seat on CalPERS, CalSTRS Boards

Betty Yee, California’s 32nd state controller and chief financial officer, will this week deliver the Breakfast Welcome Address at Markets Group’s 6th Annual California Institutional Forum in Sonoma. Yee is a board member of the $346.8 billion California Public Employees’ Retirement System (CalPERS) and the $219.2 billion California State Teachers’ Retirement System (CalSTRS), the two …

Kentucky’s Pension Funding Ratio Tumbles; Fund Accelerates CIO Search

The assets-to-liabilities funding ratio of the Kentucky Retirement System (KRS) in Frankfort fell to 12.9% on June 30, from 13.6% earlier, according to a report to the system’s board by the fund’s actuaries last week.  Some at the fund expect the ratio to fall further before bottoming out. The pension fund had approximately $2 billion …

Fireside Chat: Semper Capital CEO Gives Back

Earlier this month, Greg Parsons, CEO of Semper Capital Management, a New York-based asset management boutique with approximately $3.2 billion in assets under management, addressed a group of service-disabled veterans, military spouses and caregivers who were nearing the end of a five-month business and entrepreneurship fellowship program at Georgetown University, which included real-life work experience at a non-profit …