The $14.7 billion Mubadala Development of Abu Dhabi is believed to be slating co-investments totalling $1 billion in the Malaysian energy, real estate and hospitality industries with a newly formed sovereign wealth fund from the Asian nation.
The Investors’ Working Group (IWG) has urged the US Government to set up an independent authority to monitor the activities and risk exposures of dominant financial institutions and advise regulators on ways to mitigate current and emerging risks in the financial system.
The financial crisis has placed defined contribution (DC) pension provision firmly under the spotlight. The dramatic falls in fund values observed for most members during 2008 have been drawing attention to the risks inherent in DC pension provision and focusing attention on how employees,
employers and plan fiduciaries can better manage their DC pension plans. In this paper, Watson Wyatt explores the future of DC governance.
America’s two largest pension funds both lost around a quarter of their market value in the fiscal year ended June 30, in what was the biggest ever single year decline for CalPERS.
In his testimony to the US Senate on the regulation of hedge fund and private equity managers, Joe Dear, CIO of CalPERS, said that all managers of US assets should be subject to SEC oversight, and that alternatives should not bear the brunt of blame for the crash, as regulatory shortcomings are now also evident.
The five New York City pension funds selling shares worth $10.8 million in two companies with business ties to Iran have been asked to adopt resolutions for the phased divestment of holdings in eight more companies with ties to the country which, in total, have a market value of more than $141 million.