Letters to the Editor

  1. Money-weighted returns the way to go

    trueI was pleased to see the article regarding the Governmental Accounting Standards Board's new requirement for public pension funds to use the internal rate of return (“Good returns ease public fund fears as GASB reporting changes take hold,” Sept. 15, page 2). To me, this is a massive change that ...

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  1. Outcomes the key metric for target-date funds

    trueIn regard to the Aug. 18 Pensions & Investments' page 4 story, “Some target-date funds are boosting equities”:

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  2. Timbervest CEO disputes SEC

    trueThe story, “SEC ruling expected in Timbervest case” (Aug. 18, 2014) did not contain much of our side of the story in part because the reporter mostly relied upon the SEC's biased information. Among the points missed is the administrative law judge's prior ruling that disbarment of the principals ...

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  3. Public-private plans fill pension gap

    trueIn its June 9 editorial, Pensions & Investments is right to raise a caution flag over states' decisions to provide saving assistance for small-business workers and owners, but the conclusion is wrong. Yes it's complex, but providing missing retirement security to millions of Americans is both a ...

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  4. Putting the value of proxy-vote assets to full use

    trueThank you for your important editorial, “Winning over proxy voters” (Pensions & Investments, May 12), which argues that institutional investors have a fiduciary duty to announce their proxy votes in advance of annual meetings, if doing so is likely to influence voters.

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  5. SFERS CIO has failed to make a credible case for hedge funds

    trueThis letter responds to Pensions & Investments' article entitled “San Francisco CIO proposes major asset allocation overhaul” (P&I Daily, May 22), which reported that San Francisco Employees' Retirement System's new chief investment officer proposed that the fund invest 15% of its assets ($3 ...

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  6. Tax avoidance harms pensions

    trueI couldn't help but notice that your April 28 editorial — urging pension funds to consider that “high” U.S. corporate tax rates apparently “adversely” impact fund investment performance — was placed directly across from an Other Views commentary on public employee pension underfunding.

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  7. SOA ideas not a pathway to stronger public plans

    trueThe National Conference on Public Employee Retirement Systems couldn't disagree more strongly with Pensions & Investments' conclusion that public pension plans should adopt the recent recommendations of an ad hoc panel of the Society of Actuaries (Editorial, “A pathway to stronger plans,” March 3).

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  8. SDCERA meeting goals: steady gains, curbing risk

    trueThe article about the San Diego County Employees' Retirement Association performance return is a classic example of there being no “there there” in an article (Pensions & Investments, “San Diego County hit by performance blip,” page 3, Feb. 3).

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  9. Not chasing market or peers

    trueIn response to the Pension & Investments' Feb. 3, page 3 article by Arleen Jacobius, “San Diego County hit by performance blip”:

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  10. "Upside potential ratio,' and not Sortino ratio, is the proper focus

    trueIn regard to Brian M. Rom's letter to the editor in the Jan. 6 issue of Pensions & Investments on the importance of the Sortino ratio in investment-performance measurement:

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  11. Concerns about HMA acquisition of CHS

    trueThe decision by Health Management Associates shareholders to approve a purchase offer by Community Health Systems should have surprised no one (P&I Daily, Jan. 8, and Pensions & Investments, Dec. 6). It certainly came as no surprise to the American Federation of Teachers.

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  12. Challenges of delegating fiduciary management

    trueYour July 22 editorial is a useful contribution to the topic of outsourcing investment management, a technique which is relatively new in the U.S. but which has been employed more widely in Europe.

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  13. Sortino ratio, downside-risk optimization widely used tools

    trueThere was an important omission from your extensive article on significant developments in our industry over the 40 years P&I has been publishing (“Witness of a revolution,” Pensions & Investments, Oct. 14).

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