Pension Funds
This pension fund is now worth $1,000,000,000,000
Norway's giant pension fund is now worth over $1 trillion. Yes, 1 followed by 12 zeros.<p>The fund's managers announced Tuesday that currency shifts had helped push its value above $1 trillion for the first time.<p>"The growth in the fund's market value has been stunning," fund chief Yngve Slyngstad said …
BusinessAcademics urge universities’ pension to explain funding gap
The trustees of the UK university sector’s £60bn retirement fund are facing pressure from academics, including leading statistical experts, to …
South Africa denies report it plans to sack head of $150 bln state pension fund
JOHANNESBURG (Reuters) - South Africa’s Treasury on Thursday denied a newspaper report that it was about to fire the head of the state-owned Public Investment Corporation and said the report was baseless.<p>Citing unnamed sources, The Star said the chief executive of Africa’s biggest pension fund, Dan …
South AfricaConsultant pleads guilty to fraud, pension fund theft
Prosecutors say a consultant has pleaded guilty to embezzling more than $700,000 from a Rhode Island medical firm and its employees' retirement …
BusinessDanish pension fund to buy stake in Copenhagen Airports in $1.6 billion deal
COPENHAGEN (Reuters) - Danish pension fund ATP has agreed to buy a 27.7 percent stake in Copenhagen Airports (CPH) (KBHL.CO) from Australia’s Macquarie MAP.AX for about 9.8 billion Danish crowns (£1.17 billion).<p>The transaction depends on approval by the Danish and European Union authorities and is …
CopenhagenAnthony Hilton: Why liquidity is drying up as a market driver
Ask anyone in the City what makes a market and they will say liquidity, the ability to find a buyer for anything you want to sell, or conversely a …
FinancePension fund overhaul seeks to improve workers’ wages, safeguards
The rule will apply wherever the city pension fund owns 50% or more of a real estate or infrastructure asset.
21st Century‘Irresponsible and defamatory.’ Ex-pension chief responds to Bevin’s ‘jail’ comment.
The former executive director of the Kentucky Retirement Systems, who Gov. Matt Bevin said “should be in jail,” defended himself on Monday, blaming …
LexingtonCity's pension 'reform' hits taxpayers, consumers
The Kenney administration claimed victory on pension reform when it announced last month that it signed a $245 million three-year contract with the …
RetirementUS and Europe have world’s worst-funded corporate pension schemes
DuPont of the US, the UK’s BT and Canada’s Hydro One have the worst-funded pension schemes in the world, according to new research that underlines …
Delta AirlinesJury’s still out on saving SAA
A top official at the Government Employees’ Pension Fund (GEPF) this week kept ajar the possibility of the entity investing in bankrupt national …
Business (South Africa)Data: Emanuel's top third-term donors, with connections
Ahead of a possible 2019 re-election bid, Mayor Rahm Emanuel continues to rely on key campaign donors who have received City Hall benefits, ranging from contracts and zoning approvals to appointments and personal endorsements from the mayor, the Chicago Tribune has found. So far, Emanuel has …
ChicagoSSS bats for higher contribution ceiling and leeway to invest in infrastructure
MANILA - The Social Security System (SSS) on Wednesday called for amendments to the social security law to allow its members to make higher monthly …
PhilippinesUnions threaten court action if state pension fund raided to bail out SAA
The Independent Labour Caucus has added its voice to Cosatu’s, as neither Finance Minister Malusi Gigaba nor the PIC has offered assurance that the …
Business (South Africa)Big investors step up rebellion at company meetings
The world’s biggest investors rebelled more at company meetings globally this year compared with last year, as asset managers came under mounting …
FinanceFinland's largest pension fund is dumping US stocks: "There is no president in the US"
Risto Murto, CEO of VarmaVarma<p>Risto Murto, CEO of Varma, the largest pension fund in Finland, raised quite a few eyebrows when he announced that the fund is cutting down its allocation to US stocks due to a leadership vacuum in the country, in an interview given to Bloomberg last week. The …
EconomyBrexit: Billion-dollar Australian pension fund eyes up UK office space opportunities
Bankers may be leaving London, but Britain’s exit from the European Union could still offer opportunities to buy UK commercial real estate with the …
BrexitGibson Hotel in Dublin's Docklands put up for sale
One of Dublin's most exclusive hotels is up for sale with a price tag of €87m.<p>The Gibson in the Docklands, Point Village has a four-star rating with …
News (Ireland)Massive Finnish pension fund unloads U.S. stocks because... Donald Trump
‘It seems as if there is no president in the U.S.’<p>That’s the rationale CEO Risto Murto of the Varma Mutual Pension Insurance Co. used in a recent interview to explain why the biggest private-sector pension fund in Finland is trimming U.S. stocks in its $53-billion portfolio, according to …
Donald TrumpPension Fund Dumps Stocks Because ‘There Is No President In The U.S.’
Does the United States even have a president anymore?A $53-billion public pension fund isn't sure, so it's dumping the American stocks in its …
Canadian NewsEmanuel defends CPS property tax increase
Mayor Rahm Emanuel on Tuesday defended the idea of another big boost in Chicago Public Schools property taxes that's part of the compromise agreement on state school funding.<p>Under legislation that has cleared the General Assembly, the Chicago Board of Education would be given the authority to …
ChicagoCan the average investor afford such significant underperformance?
I recently attended a board meeting of an independent financial advisor, and the following graph was included in the board pack:<p><i>With acknowledgement</i> …
InvestingUpstart Insurer Wants to Buy Your Pension Fund
Athene Holding Ltd., untested at running pension funds, wants to compete with the industry’s oldest and biggest firms.<p>Jumping into the business of …
FinanceOne Day, 816 Meetings: Where South Korean Reform Begins
Investors considering South Korean stocks in the past few weeks had plenty of geopolitical reasons to hesitate before buying. But once the diplomatic …
BusinessJeremy Mansfield tells those criticising his house-buying in UK to go jump
The post received much admiration and support from some of his followers, but others slammed him for apparently abandoning South Africa after …
News (South Africa)Huge Pension Fund Makes Example of Tiny California City
California state government observers have wondered in recent months why the California Public Employees' Retirement System (CalPERS), the nation's …
FinancePolitics Matters Less and Less, Danish Pension Fund Giant Says
Denmark’s largest private pension fund isn’t that interested in politics anymore.<p>Allan Polack, chief executive officer of PFA, argues that lawmakers …
BusinessPension fund for hospital nurses placed in receivership
The defined-benefit pension plan for nurses at Our Lady of Fatima Hospital and the former St. Joseph's Hospital was placed in temporary receivership …
Health CareHarvey firefighters' pension on 'collision course' with bankruptcy, appeals court says
In an unprecedented ruling, an appellate court declared the city of Harvey so severely neglected its firefighters' pension fund that it was on the verge of insolvency — meaning there might not be any money for retirees or firefighters on the job there today.<p>The ruling comes as local firefighters …
Cook CountyWorld’s Biggest Pension Fund Wants to Stop Index Trackers Eating the Economy
The growth in passive index-tracking threatens to harm investors in the long term<p>If investors continue to pile their money into passive index-tracking, at some point markets will stop doing their job of allocating resources efficiently in the economy. Perhaps they already have.<p>The threat is big …
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