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Pittsburgh Mayor Luke Ravenstahl sits in his beige-hued office, one hour forty-three minutes before he will open the final bids for the privatization of the city's parking system. This controversial plan has been a centerpiece of his recent work to save a dying pension system.
If only. You don't live in Mayfair. You don't play golf in Greenwich. You drive yourself to the office in a moderately nice car, but you're still driving yourself. When you get there, you control billions of dollars -- but it's not yours.
Delaney is the CIO of the A$32bn AustralianSuper, an industry superannuation fund formed by the merger of two smaller funds in 2006. He spoke with aiCIO about building the fund's internal staff, delivering value for the fund's more than 1.5m members, and how the fund's recent performance compares to its peers.
With interest rates creeping to record lows during 2010, the present values of pension liabilities are reaching new heights and, with only modest and tenuous gains in stock portfolios, the funding ratios of US corporate pensions have reached a milestone as well.
Petroff, EVP of Investments and Chief Investment Officer of the $96 billion Ontario Teachers' Pension Plan, spoke with aiCIO from his offices in Toronto about the fund's liabilities, its early move into hedge funds, and its role as a market watchdog in its home country.
A National Association of Pension Funds pulse survey has show 78% of respondents believe the UK's watchdog should be more accountable to those it regulates.
The California Public Employees' Retirement System has reported a 13.3% return on its investment for the year ended June 30.
Commonfund will discontinue direct real estate investments as it is aiming to restructure a losing $1 billion fund.
A survey by one of the country’s biggest pension advisory firms has revealed that time-pressured trustees are unable to spend sufficient time on investment decisions.
The pension fund is suing the bank for losses from an investment done by the custodian that went sour during the global financial crisis.
“When the facts change, I change my mind. What do you do, sir?”
-John Maynard Keynes