United States – Page 9
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NewsNorway’s SWF stands back from looming shareholder battle for Exxon
Largest proxy voting firm advises clients to vote for rebels
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Opinion PiecesLetter from US: Aid without reform set to resolve the multi-employer pension plan crisis
Until March, The prospective collapse of multi-employer pension plans meant that over one million retired truck drivers, shop assistants, builders and other members of 186 schemes were at risk of losing their retirement benefits.
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News
Ilmarinen invests €170m in AXA low-carbon HY bond fund
Finnish pension insurer is seed investor in active ESG fixed income fund, which is ‘one of the first of its kind’
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Asset Class ReportsUS high yield: A changing market
US high yield looks attractive against investment-grade credit although there are important changes for key sectors
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Opinion PiecesLetter from US: Pension bonds raise concerns
The resurgence of interest in pension obligation bonds (POBs) is one of the effects of the pandemic on the US pension funds industry. Indeed in 2020 POB issuance reached its highest level in a decade, exceeding $6bn (€5bn), according to Municipal Market Analytics (MMA), an independent research firm focusing on the US municipal bonds.
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News
Nordic pension funds keep close eye on inflation trend
The Federal Reserve’s changed inflation goal feeds uncertainty about how and when US policymakers will step in
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Features
Rising interest in EM debt
The weak dollar and low US interest rates are pushing governments and companies in emerging markets (EMs) to issue growing volumes of dollar-denominated debt.
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Opinion PiecesCulture wars pose the greatest dangers
What areas within the increasingly bitter conflict between China and the West are most likely to hit asset owners?
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Opinion PiecesLetter from US: COVID and racial justice to the fore
The 2021 proxy season’s hot issues are human capital management related to COVID-19 and social justice. Several large US public pension funds are at the forefront of these campaigns together with non-profit shareholder advocacy organisations like the Interfaith Center on Corporate Responsibility (ICCR) and As You Sow, a non-profit foundation that promotes corporate accountability.
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FeaturesChina: Caught in the crossfire
The investment world is at risk of being caught in the midst of a ‘geoeconomic’ conflict between the world’s main economic blocs
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Opinion PiecesLetter from US: HSAs set to build on popularity
The Health Savings Account (HSA) is becoming increasingly popular as a retirement savings vehicle in the US. The new Biden presidency and the now Democrat controlled Congress are likely to accentuate this trend in 2021 and beyond.
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FeaturesLong-term matters: Stop investing in autocracy
Europeans observing the US ‘near miss’ constitutional crisis have a choice – be spectators or show responsibility
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News
Evonik, Legal & General add £544m buy-in to US de-risking transaction
Merger of four UK DB schemes paves way for full buy-in
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FeaturesBriefing: Still a strong case for US stimulus
The next awaited US stimulus programme remains a mystery. Congress must agree on funding specifics, but the final composition of the Senate will be unknown until this month. Republicans and Democrats have been battling over spending priorities since COVID-19 struck last spring, with competing priorities.
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Asset Class ReportsAsset class report – Investment grade credit
The US credit market is heading for change under new President Joe Biden’s administration
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Opinion PiecesLetter from US: Don’t anticipate radical reform
The new Joe Biden administration is unlikely to revolutionise US pension plans, but it could broaden the base of workers able to join defined contribution plans such as 401(k)s. It may also cancel recent rules and return to the previous regulations set under Barack Obama.
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NewsStewardship roundup: APG co-files Amazon shareholder proposal
Plus: Investors keep up tailings dam standard momentum
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FeaturesUS endowments: Success breeds success
Perhaps no single group of institutional investors elicits as much fascination and admiration as US university endowments – in particular those of the Ivy League, and among that elite group the Yale and Harvard endowments in particular.
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Opinion PiecesLetter from US: COVID-19 places new demands on university endowments
COVID-19 has hit a special category of institutional investors in the US hard – college and university endowments. In fact, higher education institutions are facing a decline in revenues because of fewer students enrolling and paying tuition, as well as current students asking for more financial aid. Colleges and universities are withdrawing substantial amounts from their endowments to cover these extra expenses. How is this affecting endowments’ investment strategies?
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FeaturesBiden signal is green for ESG
For many, US president-elect Joe Biden spells hope. From an ESG-perspective, there are two main aspects to this phenomenon.
