The distress in the financial markets is offering Australian superannuation funds good opportunities to achieve a higher internal rate of return (IRR) on quality assets purchased directly.
Sam Magee, commercial director at Australian investment manager Industry Funds Management (IFM), told the Conference of Major Superannuation Funds (CMSF) held in Australia this week, that there are now more opportunities to buy quality assets at a better price.
The two largest state public pension funds in the US – the California Public Employees’ Retirement Sysrtem (CalPERS) and the California State Teachers Retirement System (CalSTRS) – have filed a joint motion with the US District Court, Southern District of New York, to be designated lead plaintiff in class actions against Bank of America stemming from its merger with Merrill Lynch.
Hermes Funds Management, 100 per cent owned by the UK’s largest pension scheme BT pension fund, will implement “responsible asset management” across its entire product range.
US consulting firm, Hammond Associates’ most recent alternative investments report, which highlights the fact there were very few places to hide in 2008, outlines the performance of the various asset classes and the outlook for the sector.
Investments of more than $100 billion are required to rebalance the equity allocations of the largest US corporate defined benefit plans, as they join their international peers, registering record losses for 2008 and pushing them deep into underfunded territory.
Casey Quirk has released its inaugural Global Asset & Flows Review, powered by eVestment Alliance. This new publication, issued quarterly, provides key information about estimated assets under management and net new inflows reported by fund managers worldwide, with a particular focus on the U.S. institutional fund management marketplace.