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Old Mutual Global Investors hires 6 from Ignis for absolute-return launch
trueOld Mutual Global Investors hired a team of six to launch and manage a set of absolute-return funds, said a spokeswoman.
Arkansas Teachers terminates $475 million PIMCO portfolio
trueArkansas Teacher Retirement System, Little Rock, terminated Pacific Investment Management Co., which managed about $475 million in its Total Return strategy for the pension fund, said George Hopkins, executive director.
Risk of star dependence
trueThe departure of William H. Gross from Pacific Investment Management Co. LLC leaves money management companies and institutional fiduciary clients alike wondering whether they should encourage the star system or a team approach to managing money.
The Gross effect
trueMany asset owner clients of Pacific Investment Management Co. cited their long-term relationship with the firm — ties that go beyond co-founder and Chief Investment Officer William H. Gross — as a reason for not terminating the firm after Mr. Gross' unexpected move last month to Janus Capital ...
Better liquidity hoped for from electronic venues
trueCreators of electronic trading venues for fixed-income securities are hoping that, by matching buyers and sellers, more choices in trading will result in more liquidity in the secondary market.
PIMCO's unconstrained bond fund could provide hints how Gross will structure Janus offering
trueIn his first investment outlook since joining Janus Capital Group, Bill Gross provided his thoughts on what defines an unconstrained strategy: “Take your best ideas within the context of a low duration/short maturity portfolio and try to help investors achieve what they consider to be an acceptable ...
Nikko Asset Management promotes 3
trueRoger Bridges, Andre Severino and John Vail were given expanded roles within Nikko Asset Management’s investment team.
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.