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 …

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 …

Asset Owner Profile: David Holmgren, CIO of Hartford Healthcare

David Holmgren, CIO of Hartford HealthCare, a hospital fund with $3.3 billion in assets under management, paid a visit to Markets Group’s New York City headquarters just prior to the Thanksgiving break and chatted with Institutional Allocator Reporter Kaitlyn Mitchell. Holmgren opined on the passive versus active debate, international politics and his work-life-balance as a …

Single-Digit Level Returns for Developed Equities in 2019: Cambridge Predicts

Analysts, consultants and asset managers have all been weighing in with their 2019 investment outlooks, forecasts and reports. Many are emphasizing the geopolitical and macro-economic risks that are bearing down on the market. Cambridge Associates shares those concerns. “But we also look at fundamentals and valuations, and the picture there is a little less gloomy …

IA Strategy: Univ. of Utah Endowment Eyeing “Specialty” Investments

The $1.1 billion University of Utah endowment is currently talking to several “specialty investment” managers with an eye toward investing in the niche asset class in 2019. “Based on our research, some of the attractive non-correlated strategies we’ve identified are: litigation finance, life settlements, and oil and gas royalties,” said Mark Waite, director of endowment …

Texas TRS CIO Sheds Light on Private Equity Progress and Staffing Goals

The Teachers Retirement System of Texas (TRS) with $153 billion in assets under management, unveiled the latest updates to its “Fleet” strategy—a term the system uses to describe its strategy of consolidating funds and its addition of staff, in order to save on fees over time—at its Board meeting last week. The idea behind the …

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 …