US - The New York State Common Retirement Fund (CRF) has terminated Insight Capital Research & Management from a $21m domestic equity portfolio, the pension fund said.
In its monthly transaction report for January released yesterday, CRF said it fired Insight from a small-cap growth portfolio on 31 December, but did not provide a reason.
According to data from eVestment Alliance, Insight's small-cap growth fund underperformed its Russell 2000 Growth benchmark in the year ended 31 December by 510 basis points, and underperformed by 921 basis points in the three-year period. However, longer-term numbers are stronger. Insight beat the benchmark by 122 basis points and 615 basis points in the five and ten-year period, respectively.
CRF also said it invested $100m in Discovery Global Opportunity Partners, an emerging-markets macro hedge fund.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.