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Industry At A Glance

Kentucky Pension Fund Paid Middlemen

August 13, 2010 - A new internal audit report released yesterday claims that the Kentucky Retirement Systems (KRS) paid nearly $13 million to placement agents in order to secure attractive investment deals with the plan over the course of the last six years. The “Placement ...

Fees for All

August 13, 2010 - The vendor and consumer relationship and its ties to fee bartering can be traced back to our forefathers. However, for many, recent examples exhibited through the investment manager/plan sponsor relationship may conjure up ...

Kern County Creates Investment Officer Function

August 5, 2010 - The Kern County Employees’ Retirement Association (KCERA) is searching for an industry professional to fill the newly created role of investment officer at the plan. The investment officer will report directly to Executive Director Anne ...

Hedgies Likely Want to Forget Q2 Performance

July 26, 2010 - It's been a white-knuckled roller-coaster ride for hedge funds and their investors so far this year—gains won in the first quarter were surrendered in the second. The relatively poor performance is likely a concern for the fund ...

Illinois SBI Optimistic About Portfolio’s Future

July 23, 2010 - Over the past year, the Illinois State Board of Investment (ISBI) has been gladly situated at its “modeled benchmark” and anticipates troubled asset classes to rise as 2010 progresses, Executive Director William Atwood told IMW today. In ...

Fresno County to Monitor State Street

July 19, 2010 - Recent organizational changes at State Street has landed the firm on the Fresno County Employees’ Retirement Association’s (FCERA) watch list for a securities lending account, Roberto Pena, administrator at the plan confirmed today. Last month, Peter Economou

New SEC Rules on Political Contributions Will Test Investment Advisors

July 6, 2010 - Investment advisors (IAs) may face tough compliance issues in the wake of the Securities and Exchange Commission's unanimous adoption last week of rules designed to prevent advisors from making political contributions to elected ...

In Massachusetts, Essex Debacle Sparks PERAC Reforms

July 2, 2010 - With Wednesday’s signing of the state’s 2011 budget, Massachusetts Governor Deval Patrick approved a slew of new changes which affects the Essex Regional Retirement Board (ERRB), the most publicized and scrutinized public body in the ...

CTPF Picks Potential Bond Firms

June 28, 2010 - The Public School Teachers’ Pension and Retirement Fund of Chicago’s (CTPF) has narrowed down its search for a fixed-income investment firm to three emerging managers, Kevin Huber, CTPF executive director, said in an email. In March ...

MFC Takes a Slice out of Small-Cap

June 25, 2010 - Domino’s Pizza’s new recipe may be captivating the masses, but who would have known that U.S. small-cap investment managers are also committing to the tasteful hysteria. Timothy Malloy, a senior VP and portfolio manager at MFC ...

Multi-Employer Plans Eye Alternatives in Funding Crisis

June 22, 2010 - As a response to the recent funding status hysteria, multi-employer pension plans seem to be feverishly allocating more assets to the alternative space, a new SEI survey claims. Poll findings from the Oaks, Pa.-based firm’s ...

Marin County Replaces Benner

June 21, 2010 - The Marin County Employees’ Retirement Association (MCERA) has named a permanent replacement for Charnel Benner, the plan announced in a posting on its Web site. Jeff Wickman will be the retirement administrator at ...

North Dakota Considers Firms for Audit, Director Search

June 17, 2010 - The North Dakota State Investment Board (SIB) has taken the next necessary step in completing a performance audit of the retirement and investment office. A special audit committee selected nationwide firm Clifton ...

Texas Auditors Office Plans Review of TRS

June 16, 2010 - The Texas State Auditors Office (SAO) is currently accepting bids from firms to perform a soup-to-nuts review on the Teachers’ Retirement System. The RFP notes that the selected firm would “evaluate investment practices and ...

Larch Lane’s Jurish: Hedge Funds Have ‘Sound Footing’

June 16, 2010 - As pension plans scurry to recover funds and bring up actuarial assumptions, hedge funds could to be the answer to their prayers, with the expectation that the industry will “soar” over the next five years in new commitments, Larch Lane CEO Mark Jurish said today. Reasons ...