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Managers push SEC for limits on brokers' maker-taker rebates
trueMoney managers want the Securities and Exchange Commission to examine maker-taker rebates — to limit or eliminate them for all stock trades — claiming that the rebates spur broker-dealers to find trading venues based on revenue, rather than on best execution for clients.
Dark pool for bonds might depend on equity success
trueThe recent launch by eight large U.S. money managers of an equity dark pool has some wondering if something similar could be built by the buy side for fixed-income trading.
Transition managers answer call for sophistication
trueTransition managers are adding new capabilities to transfer assets in complex derivatives, futures and options, along with traditional transfers of securities.
Schlumberger adds Voya Financial target-date funds to 401(k) plan
trueSchlumberger Ltd. has added a custom target-date fund series to its $5.3 billion U.S. 401(k) plan, said Gary Park, director of trust investments for the Houston-based oil and gas company.
Voya recruits J.P. Morgan exec to oversee insurance investment management sales
trueJohn D. Simone was named head of insurance investment management sales and solutions at Voya Investment Management.
Voya Investment Management chooses emerging markets debt head
trueJean-Dominique Butikofer has joined the fixed-income team at Voya Investment Management as head of emerging markets, spokesman Christopher Breslin said.
ING Investment Management strengthens emerging markets team
trueAshish Goyal and Robert Holmes were appointed to ING Investment Management International’s emerging market equity team.
U.K. surety bond deal gives new pension funding option
trueA FTSE 100 company has become the first to make surety bonds part of the funding strategy for its defined benefit plan, a new option for corporate executives looking to make good on pension promises.
Schroders adds multiasset position
trueSeth Finkelstein will join Schroders as U.S. product manager, portfolio solutions, within the firm’s multiasset and portfolio solutions business, a spokeswoman said.
Impact of GASB's new pension rules on government bond ratings
trueFor many public sector retirement plan sponsors, the Governmental Accounting Standards Board's new pension reporting rules couldn't have come at a worse time. The changes, effective June 15 and encapsulated in GASB Statements 67 and 68, mandate that governmental balance sheets reflect unfunded ...
CalSTRS staff backs hiring ING as DC plan record keeper
trueCalSTRS' staff is recommending the hiring of ING Investment Management as a third-party administrator and record keeper for the CalSTRS' 403(b) and 457(b) supplementary saving programs.
ING U.S. files with SEC to reduce ownership stake of parent
trueING U.S. filed a follow-on offering with the SEC Monday to further reduce parent ING Group's 57% ownership stake in the firm.
Nomura Asset Management will buy ING's Taiwan money management business
trueNomura Asset Management Co. is partnering with a group of investors to buy ING Group's Taiwanese money manager business, ING Securities Investment and Trust Co. Ltd., Taiwan, according to a Nomura news release.
Michigan rehires administrator of 401(k), 457 plans
trueMichigan Office of Retirement Services, Lansing, rehired incumbent ING U.S. Retirement Solutions as the third-party bundled administrator for the state's public employee $4.3 billion 401(k) plan and $1.8 billion 457 plan.
Kohler sinks 401(k) assets into 2 new options
trueKohler Co., Kohler, Wis., is adding the Fidelity Small Cap Discovery Fund and the Oakmark International Collective Fund as investment options in its 401(k) plan.