Across the Board on ESG

With this edition of Institutional Allocator, we bring you this new feature we’ve dubbed Across the Board. In it, IA asks its advisory board members–who collectively represent broad investment industry expertise–to share thoughtful observations on selected industry themes and topics. To Inaugurate the feature, IA recently asked board members to comment on a few basic …

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 …

St Louis Sewer Sets Aon to Task on Asset/Liability Study

The Metropolitan St. Louis Sewer District (MSD), which late last year engaged Aon as its new general consultant, has set the firm to work on its first project: an asset/liability study that it expects the firm will complete by the end of March. According to Tim Snoke, MSD secretary-treasurer, prior to hiring Aon, MSD had …

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 …

Aussie Coal Mine Court Ruling Illuminates Reg. Risk in ESG Investing

The decision by an Australian court earlier this month to prohibit the opening of a coal mine because the mine would contribute to greenhouse gas (GHG) emissions and set back the fight against climate change is being characterized by some socially responsible investing specialists as a judicial first in the environmental, social and governance (ESG) …

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 Into Africa

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 …

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 …