Public pensions in Pennsylvania have a transparency problem. Though the public retirement systems pay performance-based fees to investment managers, these fees aren’t reported or publicly available.
The Employes’ Retirement System of the City of Milwaukee, a pension fund that covers over 12,500 city retirees and their survivors, reached a settlement in a lawsuit where the Milwaukee pension fund alleged losing “hundreds of millions of dollars” due to a fraudulent scheme.
Allianz Global Investors, a multinational investment firm based in Germany, is facing federal fraud charges – and the announcement comes just over two months after the Virginia Retirement System closed its account with the company.
A Fifth Circuit panel ruled Wednesday that the U.S. Securities and Exchange Commission’s use of in-house courts to bring a securities fraud case against a hedge fund manager was unconstitutional.
As institutional investors increasingly embrace ESG investing and net-zero carbon emissions goals, suitable investment options have not kept pace, according to a recent report.
RFI for non-discretionary investment advisory services will result in an RFP process this summer as the organization’s bylaws require a search for the services to be conducted every five years.
The foundation has selected a new investment consultant to oversee its portfolio following a search from late 2021 and will recommend the firm to its board of trustees next month.
The fund will consider redeeming from a real estate manager next week due to continued underperformance as the strategy has been hampered by its concentration in office and retail.