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May 22, 2012 - Dawn Lim

North Dakota Lines Up Interim CIO, Executive Director

The North Dakota State Investment Board, which oversees a $3.7 billion pension pool, has named Deputy CIO Darren Schulz as Interim CIO, said State Treasurer Kelly Schmidt. The move was made as the state government seeks a permanent replacement for John Geissinger, who has resigned as CIO and executive director of the North Dakota Retirement and Investment Office, effective May 31.

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May 17, 2012 - Levi Davis

SFERS Targets $400 Million In Non-Core RE

The $15.6 billion San Francisco Employees’ Retirement System approved a real estate investment plan for the 2012/2013 fiscal year at its May 9 meeting, Lindsey Adams, senior portfolio manager for the fund, confirmed. The plan includes a recommendation to allocate up to $400 million to non-core investments.

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May 16, 2012 - Levi Davis

N.Y./N.J. Port Authority Seeks OPEB Investment Advisor

The Port Authority of New York & New Jersey issued a request for proposals for providers of investment management services for its other post-employment benefits (OPEB) trust. The OPEB has approximately $429 million in assets, according to a spokesman.

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May 15, 2012 - Carl Winfield

San Diego Targets Bank Loan Investments

The approximately $5.3 billion San Diego City Employees Retirement System will consider pursuing investments in bank loans at its May 17 meeting, according to documents obtained from its consultant, Chicago-based Hewitt EnnisKnupp.

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May 14, 2012 - Levi Davis

Ariz. To Discuss New Allocation; Could Move $5B Around

The $28.2 billion Arizona State Retirement System (ASRS) is set to consider a new asset allocation at its May 18 meeting, potentially shifting $5 billion from U.S. equity and core fixed income to new assets, according to fund documents. The new allocation, which was constructed with the assistance of consultants Allan Martin and Tim McCusker of NEPC, with input from the ASRS’ investment committee, aims to increase diversification, increase returns in a low-return environment, maintain significant liquidity, remain fee and cost conscious and increase allocations to passive strategies.

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May 11, 2012 - Levi Davis

Ship Builder Sinks Alts Investments

Newport News, Va.-based Huntington Ingalls Industries slashed its alternative investments to roughly 4.6% of its defined benefit funds’ investments as of Dec. 31, 2011, from 20.5% in 2010, according to its 10-K report, which was filed on March 29.

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From around the web

  • PLANSPONSOR

    Lockton Lists Audit Concerns For 403(b)s

    Lockton Retirement Services has published an article describing common audit issues uncovered during the most recent 403(b) plan audits, PLANSPONSOR reports.
  • Reuters

    JPMorgan Sued Over Employee Retirement Plan Losses

    JPMorgan Chase & Co has been hit with a lawsuit brought on behalf of employees whose retirement holdings dropped in value after the bank disclosed a $2 billion trading loss earlier this month, Reuters reports.
  • Washington Post

    CalSTRS Votes Against Electing Wal-Mart’s Current, Former CEOs to Board

    The California State Teachers’ Retirement System will vote its 5.3 million shares against Wal-Mart’s 15 board nominees, including the company’s current and former CEOs, at the retailer’s annual meeting next week, the Washington Post reports.
  • The Wall Street Journal

    California Teachers Buying Real Estate Management Company

    The California State Teachers’ Retirement System is buying a majority stake in LCOR Inc. from Lehman Brothers Holdings Inc., paying $820 million for a stake of more than 90%, the Wall Street Journal reported.
  • The Wall Street Journal

    Investors Flying Solo On Real Estate

    Some large institutional investors are bypassing real estate funds on the belief that they can do better on their own, the Wall Street Journal reported.
  • Traders Magazine

    Institutional Hedge Fund Assets Encouraging Increased Transparency

    Almost 60% of hedge fund assets come from institutional investors, according to a survey by the Alternative Investment Management Association and auditing firm KPMG, Traders Magazine reports.
  • Capitol Weekly

    CalPERS Looks At Energy Infrastructure

    The California Public Employees' Retirement System is meeting in San Diego this week to discuss investments in California energy-related infrastructure, Capitol Weekly reports.
  • InvestmentNews

    Advisors Souring On 60/40

    Roughly half of financial advisors surveyed questioned the wisdom of the traditional 60/40 asset mix, InvestmentNews reported.
  • PLANSPONSOR

    Auto-Enrollment Boosts 401(k) Participation

    401(k) plans with auto-enrollment features achieved a participation rate of 76% in March, compared to 50% for those that did not, according to a survey by Bank of America Merrill Lynch, PLANSPONSOR reported.

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