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CalPERS' fixed-income portfolio returns 7% annually over 10 years
trueCalPERS, in its latest annual review of the fund's global fixed-income program, said the $46.9 billion pool returned 7% annually in the 10 years ended June 30, 72 basis points above its benchmark. By comparison, the Barclays U.S. Aggregate index returned 5.43% annually during the same period.
Gross: 8%-9% returns 'going to be difficult to achieve' for pension funds
trueWilliam H. Gross on Thursday said investors need to say “bye-bye” to the days of historically high returns, and target returns of as much as 9% for pension funds are “going to be difficult to achieve, especially with rates where they are now.”
San Francisco pension fund puts off hedge fund vote
trueSan Francisco City & County Employees' Retirement System, amid a contentious board meeting, again put off a vote Wednesday on whether to allocate 15% of the pension fund's $20.1 billion to hedge funds.
Study shows returns of listed REITs beat other asset classes
trueReal estate investment trusts offered the highest net return of all asset classes for 900 corporate and public defined benefit plans between 1998 and 2011, says a soon-to-be-released study by research firm CEM Benchmarking Inc.
Fed sees pickup in economic growth
trueMembers of the Federal Open Market Committee expect faster economic growth in the second half of 2014 and in 2015 under current monetary policy, according to minutes from the September meeting that were released Wednesday.
Texas Municipal puts PIMCO on watch
trueTexas Municipal Retirement System, Austin, put Pacific Investment Management Co., on watch because of the departure of William H. Gross, PIMCO's co-founder and chief investment officer.
PennPSERS allocates $900 million total to 3 managers
truePennsylvania Public School Employees' Retirement System committed $500 million to BlackRock's Market Advantage II fund, hired Radcliffe Capital Management to run $300 million in a long-only defensive credit strategy and committed up to $100 million to Angelo Gordon's AG Core Plus Realty Fund IV.
Middle-market debt - better returns at lower volatility
trueIn a report released Tuesday, Guggenheim Partners highlights the attractiveness of middle-market loans, citing their comparable liquidity profile and default history to large loans.
Florida SBA significantly cuts back $3 billion PIMCO exposure
trueFlorida State Board of Administration, Tallahassee, is pulling much of the $3 billion managed by Pacific Investment Management Co. in three portfolios.
Louisiana School Employees discusses high yield, EM debt searches
trueLouisiana School Employees' Retirement System might search for emerging markets debt and high-yield managers in 2015.
Austin Firefighters extinguishes PIMCO Total Return Fund investment
trueAustin (Texas) Firefighters' Relief & Retirement Fund is withdrawing its $80 million investment in Pacific Investment Management Co.'s Total Return Fund.
Appetite for yield is driving demand for real estate, say panelists
trueThe hunt for yield is driving global investors' interest in adding real estate to their portfolios and creating selling opportunities for holders of core property portfolios, said speakers at the Pension Real Estate Association's 24th Annual Institutional Investor Real Estate Conference at the ...
CQS names chief of new distressed debt unit
trueSimon Finn was named head of the new European principal investments group of hedge fund and alternative investment manager CQS (U.K.), said Michael Rummel, a CQS spokesman.
Standard Life Investments fills infrastructure debt post on new team
trueJeremy Allcock was appointed head of infrastructure debt at Standard Life Investments, as SLI looks to build a team to cover the asset class.
BNY Mellon to acquire Cutwater Asset Management
trueBank of New York Mellon has agreed to acquire Cutwater Asset Management from MBIA, BNY Mellon spokesman Mike Dunn said.