US - The Massachusetts Pension Reserve Investment Trust Fund (PRIT) has announced results for the 2007 fiscal year, showing strong growth above benchmarks.
The $50.4bn (€34bn) PRIT invests assets on behalf of the Massachusetts State Teachers' and Employees' Retirement Systems as well as some county, authority, district and municipal retirement systems that have come on board.
Assets grew by just under $9bn from $41.9bn in 2006, and net investment income was $8.7bn compared to $5.5bn the previous year.
Over the year, it said it faced three onerous legal problems including the issue of Sudanese divestment, and the possible loss of its charitable, tax-exempt status by the Internal Revenue Service due to the integration of several 'under-performing' and smaller pension funds.
Standard Life has increased exposure to risk assets in three out of five funds in its Active Plus and Passive Plus workplace pension ranges.
Some 48% of employers are unaware of the services or help they offer to members of their defined contribution (DC) schemes, according to Aon.
Jupiter Asset Management's Abbie Llewellyn-Waters, manager of the Jupiter Global Sustainable Equity strategy, explains why firms need to integrate ESG into their business model