INCLUDING: US - Risk filings proposed; US - Benefit of CalPERS to economy
US – Risk filings proposed
The Sacramento Bee reported that state officials, joined by California’s two public employees’ pension funds, have petitioned the Securities and Exchange Commission to require publicly held companies to disclose their potential financial risks from global warming.
The publication said the petition included signatures from the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS).
US – Benefit of CalPERS to economy
The Los Angeles Times reported that a study has found that the California Public Employees’ Retirement System (CalPERS) spurred US$15.1bn in economic activity in California in 2006, creating more than 124,000 jobs.
The newspaper added that CalPERS directly invested $8.3bn in the state economy in 2006.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.