New York City Retirement Systems
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Public pension plans make strides in staff pay
trueTwo large public pension plans recently adopted new compensation plans executives hope will enable them to recruit and retain key investment professionals.
New York City issues call for passive domestic and emerging markets bond managers
trueNew York City Retirement Systems is searching for passive domestic fixed-income managers and passive emerging markets debt managers, said an RFP posted on the website of city Comptroller Scott Stringer, fiduciary for the five pension funds in the $163.4 billion system.
New York City hires Greenhill Cogent for private equity secondary market transactions
trueThe New York City Comptroller's Office hired Greenhill Cogent as a private equity adviser for the New York City Retirement Systems and the comptroller's bureau of asset management.
BlackRock, Ceres create ESG governance guide for institutional investors
trueBlackRock teamed up with Ceres to create a guide for U.S. institutional investors on engaging with companies and policymakers on sustainability issues, the two institutions announced Thursday.
Chevron shareholders support proxy-access proposal; near majority at Exxon Mobil
trueChevron Corp. shareholders voted 55% in support of a proxy-access proposal, while Exxon Mobil Corp. shareholders voted 49.4% in favor of a similar access proposal, according to preliminary voting results of the companies' annual meetings Wednesday.
Proxy-access proposal at Chevron gaining pension fund support
truePension funds have lined up in support of a proxy-access proposal filed by the New York City Retirement Systems at Chevron Corp., according to their proxy-voting disclosures.
Large pension fund fiduciaries fire back at share-buyback policies
trueThe chief financial officers of two large states and two large cities on Wednesday issued an open letter in their role as pension fiduciaries criticizing the practice of share-buybacks by corporations and questioning whether companies “are adequately reinvesting for sustainable returns over the ...
Chipotle shareholders reject proxy access proposals, ratify executive pay
trueChipotle Mexican Grill Inc. shareholders at the company’s annual meeting Wednesday rejected two proxy access proposals, including one co-filed by the $163.4 billion New York City Retirement Systems, $56 billion UAW Retiree Medical Benefits Trust, Ann Arbor, Mich., and $5 billion Philadelphia Public ...
NYC comptroller rolls out diversity initiative for evaluating managers
trueNew York City Comptroller Scott Stringer, fiduciary for the five public pension funds that make up the $163.4 billion New York City Retirement Systems, announced Friday that the pension funds are planning to introduce diversity as a formal criterion for evaluating and selecting external money ...
Managers not diversifying fast enough from 'pale, male and stale' — CalSTRS' Ailman
trueLess than 5% of venture capital general partners are women, a percentage that has lingered over the past 20 years, said Sharon Vosmek, CEO of Astia, who moderated a sparsely attended panel titled “Women: Key Players in High-Growth Investment Strategies” at the Milken Institute Global Conference in ...
New York comptrollers call on SEC to enforce climate change disclosures at companies
trueNew York state Comptroller Thomas DiNapoli and New York City Comptroller Scott Stringer on Friday said the SEC should “consider enforcement and other actions” to make fossil-fuel companies improve disclosure of “material risks” that climate change “poses to their business.”
NYC comptroller calls for overhaul of city pension system
trueNew York City Comptroller Scott M. Stringer said Thursday that a restructuring of the city’s $163.4 billion public pension system is necessary because high fees and disappointing performance have cost the pension system an estimated $2.5 billion in lost value during the 10 years ended Dec. 31, ...
NYC pension fund rejects investment in hedge fund run by charter school backer
trueNew York City's $54 billion pension for civil employees rejected a recommendation by the comptroller's office to invest in a hedge fund run by one of the biggest financial backers of charter schools.
Prudential board adopts proxy access; NYC systems withdraw 2 proposals
truePrudential Financial Inc.‘s board of directors adopted proxy access, enabling shareholders to nominate candidates starting next year.
Pension funds have different reasons for using emerging managers
trueA number of institutional investors say they have emerging manager investment programs — not for social justice purposes, but because it’s a good way to diversify their portfolios.