The Real Reason the Investor Class Hates Pensions – The New York Times

David Weber, author of an important new book, The Rise of the Working-Class Shareholder: Labor’s Last Best Weapon, writes in the New York Times about the real reason for the switch from defined benefit to defined contribution pension plans: No issue in America today better illustrates the divergent interests of working Americans and the 1…

UN’s $61 Billion Pension Fund Starts Search for New Management – Bloomberg

United Nations Secretary-General Antonio Guterres wants to overhaul management of the global body’s $61 billion pension fund after three years of underperforming returns and contentious delays in paying retirees.The UN Joint Staff Pension Fund is seeking candidates with “more than 20 years of proven progressively responsible experience” to replace Carolyn Boykin, the former chief investment officer…

Campaign urges U.S. public pension funds to divest from owner of Trump hotel

Advocacy groups launched petitions and sent letters on Wednesday urging two of the biggest U.S. public pension funds to divest from an investment fund unless it stops paying one of President Donald Trump’s companies to run a New York hotel.<P><P>Reuters reported on April 26 that public pension funds in at least seven U.S. states periodically…

World’s biggest pension fund goes gender equal for the WIN – Financial News

Japan’s $1.2tn Government Pension Investment Fund is forging ahead with its gender equality drive, picking MSCI’s “Empowering Women” WIN index to benchmark its progress.The giant fund has begun by shifting about 3% of its passive domestic equity investments, or around one trillion Japanese yen ($8.8bn), into index funds tracking three socially-responsible benchmarks, it said today.One of…

It’s About My Pension, Stupid: Pensions Are A Corporate Governance Issue

So you still think Environmental, Social and Governance (ESG) issues are not terribly ‘gritty’? Think again. Under the auspices of an ESG issue brief, MSCI – whose indices and analytical information help investors build and manage portfolios – recently published a report on concerns around the under-funding of global pensions. Its results are startling. The…

California Suspends Ties With Wells Fargo – The New York Times

Citing Wells Fargo’s “venal abuse of its customers,” the California treasurer took the unusual step on Wednesday of suspending many of its ties with the San Francisco bank as it continues to reel from the scandal over the creation of as many as two million unauthorized bank and credit card accounts.The state treasurer, John Chiang,…

US Pension Governance: Upgrading for the 21st century | Magazine | IPE

Christopher O’Dea writes in Investments & Pension Europe: The dominant theme in the governance of US public pension funds these days is ‘investors, govern thine selves’. Many pension funds have invested in activist hedge funds or established their own corporate governance functions. These are designed to press corporate leaders and their boards to develop better…