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Industry At A Glance

Funds Face Commodities Limits

November 10, 2008 - Anxious to find regulatory levers that could lower fuel prices, Congressional Democrats are looking at curbing oil investments by speculators, including pension fund managers. There were several bills pending in the House and Senate that would limit and/or tax institutional investments in energy commodities, derivatives and other financial instruments. Two measures went to a floor vote in both chambers prior to Congress' August recess, but failed to pass. It is expected that legislation will resurface in the near future.

Odds & Ends - November 10, 2008

November 10, 2008 - * The election is over and Barack Obama will officially serve as the 44th president of the United States. Among the many daunting tasks ahead of him, he will have to deal with the current situation in the economic markets, and, according to Bloomberg, a soup-to-nuts examination of the financial industry, including retail mortgages and capital requirements for lenders, is at the top of his to-do list. The report indicates that among the changes, Obama wants increased regulation of mortgage brokers, hedge funds, private equity companies, credit default swaps and mortgage-backed securities. He would also place institutions that can borrow from the federal government, which would include some of the countries biggest companies, under scrutiny. It is also expected that Obama will tweak the $700 billion bailout plan, adjusting its direction to be more consistent with his own policies. Obama and his economic team plan to work with Treasury Secretary Henry Paulson, leading up to his Jan. 20 inauguration.

Iowa Public ERS Holds Cash for Rainy Day

November 10, 2008 - The Iowa Public Employees' Retirement System (IPERS) is holding far more cash than normal in order to ensure that it can meet its obligations on time, said Julie Economaki, spokeswoman for the $20.7 billion plan. Economaki said that IPERS is currently holding nearly $200 million in cash, compared with the normal $25 million to $30 million. She noted that the plan is stashing the extra cash as a response to the behavior of the market.

At Press Time: Plans Post Dismal Returns for 3Q08

November 10, 2008 - Institutional investors endured another rough one last quarter, but the returns posted by endowments and foundations told the saddest story, according to recently released data from the Wilshire Trust Universe Comparison Service (TUCS). Wilshire TUCS includes roughly 1,200 plan sponsors, accounting for $2.85 trillion in assets.

Funds View U.S. Infrastructure as Safe Bet

November 3, 2008 - The credit crunch has led investors to seek less-risky investments, and many U.S. institutional investors, such as pension funds and insurance companies are turning to infrastructure projects. Last month, William Thompson Jr. , New York City comptroller, told an audience at a Crain's New York-sponsored breakfast forum that he is eyeing infrastructure investments for the city's five employee pension funds.

Slack to Leave Illinois SURS for Colo. 911 Plan

November 3, 2008 - Dan Slack has resigned from his position as executive director at the State Universities Retirement System of Illinois (SURS). Slack, who according to published reports expects to leave by year-end, has accepted the CEO position at the Colorado Fire and Police Pension Association.

Arkansas TRS' Executive Director Resigns

November 3, 2008 - Paul Doane has reportedly resigned from his position as executive director of the $10 billion Arkansas Teacher Retirement System (ATRS) over concerns that he lost the confidence of the plan's retirement board and lawmakers. According to local reports, the resignation follows a state audit that found that he spent about half of his time going to out of state meetings at a cost of $34,515.

MFC Hires Head of U.S. Product Management

November 3, 2008 - Jeffrey Santerre has been named head of product management in the U.S. at MFC Global Investment Management. He will report to Frank Saeli, head of U.S. institutional sales and relationship management at the firm.

Odds & Ends - November 3, 2008

November 3, 2008 - * RREEF Alternative Investments has acquired a significant minority interest in long/short real estate investment advisor Rosen Real Estate Securities (RRES). As a combined entity, the firms plan to expand RRES' long/short platform and provide Deutsche Bank's institutional and high net worth clients with access to its strategies. RREEF is the global alternatives asset management division of Deutsche.

At Press Time: Canadian Firm Announces New Hires

November 3, 2008 - Sceptre Investment Counsel Limited has named Glenn Inamoto CIO and CEO. Inamoto has been with the firm since 1999, as a senior Canadian equity portfolio manager. The firm has also named David Morris chief operating officer. He will also retain the title and duties of CFO, which he has held at the firm since 2006.

Putnam Picks up Two from RiverSource

October 27, 2008 - Putnam Investments has added Nick Thakore and Robert Ewing to its large-cap equity team. Both will serve as managing directors and portfolio managers. Aside from being leaders for the firm's large-cap value team, Thakore will also be a portfolio manager for Putnam's Voyager Fund, while Ewing will be a portfolio manager for the Putnam Fund for Growth and Income.

Executive Director Search Is Underway at NHRS

October 27, 2008 - The New Hampshire Retirement System has hired executive search firm EFL Associates to help select a new executive director at the plan, according to its Web site. 'EFL was selected out of a pool of five executive search firms in June 2007 to lead the previous search for an executive director, based on a number of competitive factors,' a source at the fund said. 'As part of NHRS' arrangement with EFL, that firm has agreed to conduct this second search at no additional fee to NHRS.'

Alaska Permanent Fund Names New CIO

October 27, 2008 - Jeffrey Scott has been hired as the new CIO at the Alaska Permanent Fund Corporation (APFC), effective Nov. 17, where he will take over as the top investment executive overseeing the plan's $29.6 billion in assets. Michael Burns, CEO with the Juneau-based plan, noted the plan hired Scott because 'we were very impressed with his background working with all of the assets that make up our allocation.'

Odds & Ends - October 27, 2008

October 27, 2008 -

CalPERS Losses One-Fifth of Total Assets

October 27, 2008 - The country's largest pension fund, the California Public Employees' Retirement System (CalPERS), has reportedly dropped approximately 20% since July 1 due to the dismal condition of the market in recent months. CalPERS was valued at $239.1 billion In July, now has $192.7 billion in assets, according to local reports The country's largest pension fund, the California Public Employees' Retirement System (CalPERS), has reportedly dropped approximately 20% since July 1 due to the dismal condition of the market in recent months.