Risk management news and video from Pensions & Investments
Aviva agrees to $8.4 billion longevity swap for its pension fund
trueAviva PLC, London, agreed to the largest ever longevity swap for its defined benefit Staff Pension Scheme, transferring the risk of 19,000 members to three reinsurers.
Upping the ante on implementation of derisking process
trueMany ERISA pension plans are now implementing specific formulas called “glidepaths” to automatically shift funds to fixed income from growth assets as the plan's funded status increases. The goal, of course, is to reduce funded status risk — i.e., to decrease the chance plan sponsors will face ...
Chatham Partners survey: DB plans open to bundling, if convinced of benefits
trueBundled defined benefit and total retirement outsourcing opportunities remain a strategically viable market for service providers over the next five years, provided plan sponsors are properly briefed on the advantages, according to a Chatham Partners survey.
Pension buyouts priciest in U.K., index shows
trueThe U.K. is the most expensive country for pension buyouts, according to a new buyout cost index created by Mercer.
Specter of 2008 still drives institutional investors to focus on risk, study finds
trueRisk is dominating the investment conversation among institutional investors, and the financial crisis of 2008 still remains the main reason almost six years later, according to a study released Tuesday by Bank of New York Mellon Corp. in collaboration with Harry Markowitz, 1990 recipient of the ...
Convergence of currencies is main theme of 4th quarter
trueThe risk story in the final quarter of 2013 was largely about currency, particularly beyond the U.S., according to the Axioma Insight Quarterly Risk Review.
More pension executives are using daily monitoring
trueMore corporate defined benefit plan executives are keeping their fingers on the pulse of their plans' funding on a daily basis as they move to more risk-based investment strategies.
CalPERS staff: Lower investment risk, but keep discount rate steady
trueCalifornia Public Employees' Retirement System staff has recommended the investment committee approve an asset allocation that slightly reduces the system's projected investment returns.
Rising equities, low interest rates create split in derisking approaches
trueAn improvement in defined benefit plan funding has triggered a tension within corporations between an investment outlook to pursue rising equity markets and risk management in pursuit of better asset-liability matching in spite of low interest rates, said Michael A. Moran, pension strategist, ...
UBS Global adds pension risk management head
trueRobert Guzman was named managing director and head of pension risk management at UBS Global Asset Management.
New Jersey Division of Investment adjusts asset allocation to lower risk
trueNew Jersey Division of Investment, Trenton, which manages investment for the $76.8 billion New Jersey Pension Fund, has adjusted its target allocations to reduce the overall risk in the pension fund portfolio by, among other things, raising the cash allocation and reducing equity exposure.
Roll, Asness and Frazzini take top prizes in Bernstein Fabozzi/Jacobs Levy Awards
trueRichard Roll, Clifford Asness and Andrea Frazzini were named co-winners of the top $2,500 prizes of the Bernstein Fabozzi/Jacobs Levy Awards, according to a statement Friday from Jacobs Levy Equity Management Inc.
McCormick completes voluntary lump-sum program, paying about $63 million
trueMcCormick & Co. Inc. announced on Wednesday it completed its voluntary lump-sum program for certain former employees in the fourth quarter of its fiscal year 2013.
Aon Hewitt: 76% of U.S. corporate pension plans will derisk in 2014
trueThe majority of U.S. corporations with defined benefit plans will be prioritizing risk management in 2014, according to an Aon Hewitt survey.
ING survey: Institutional investors bumping up risk
trueInstitutional investors sought risky investments over the three months ended Dec. 31, with 56% increasing their risk appetite and favoring equities, according to a survey by ING Investment Management International.