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Cal pensions investing in emerging managers.


Neil Callahan

Rosemont Seneca Partners

401 Greenwich Street, Suite 400

New York, New York 10013

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From: P&I Investments Digest [mailto:pi_topic_digest@e.ccialerts.com]
Sent: Thursday, January 26, 2012 6:39 AM
To: ncallahan@rosemontseneca.com
Subject: P&I Investments Digest: CIOs getting dynamic with portfolios


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Issue Date: Thursday, January 26, 2012

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callahan@rosemontseneca.com> Forward to a Colleague


News


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1010> California
funds working to hire more emerging firms

Officials of California's two largest pension funds said Friday they are
aggressively expanding efforts to hire emerging managers to increase manager
diversity. <http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1010> >


Iceberg
<http://www.pionline.com/storyimage/CO/20120119/REG/120119876/AR/0/AR-120119
876.jpg&maxw=100&border=0&q=100>

<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1011> U.K.
pension execs using more longevity swaps

More U.K. pension fund executives are hedging against the possibility that
their members will live longer, with fund officials in other countries
expected to follow suit.
<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1011> >


012312 knutzen
<http://www.pionline.com/storyimage/CO/20120123/PRINTSUB/301239980/AR/0/0123
12-erik-knutzen.jpg&maxw=100&border=0&q=100>

<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1012>
Public pension fund CIOs getting dynamic with portfolios

Public pension plan CIOs and investment committees are trying to catch up
with their corporate pension fund counterparts when it comes to managing
their funds more actively.
<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1012> >


<http://www.pionline.com/storyimage/CO/20120124/CHARTOFDAY/120129945/AR/0/AR
-120129945.jpg&maxw=100&border=0&q=100>

<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1013>
Eurozone recession fears lead to lower IMF outlook

The International Monetary Fund updated its World Economic Outlook on Jan.
24 and cited expectations of a mild recession in the eurozone as a key
driver of slower growth. The IMF predicts world output will grow by an
average of 3.6% annually over the next two years as growth in advanced
economies will average of 1.5% annually in 2012 and 2013, while growth in
emerging and developing economies is expected to average 5.75% over the same
period. <http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1013> >


012312 young
<http://www.pionline.com/storyimage/CO/20120123/PRINTSUB/301239981/AR/0/0123
12-jennifer-young.jpg&maxw=100&border=0&q=100>

<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1014>
Institutional investors digging dividends

Dividend-focused "equity-income" strategies - which have continued to enjoy
heavy inflows from high-net-worth and retail investors over the past year -
are garnering growing interest from institutional investors as well, seeking
income or total returns, money managers say.
<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1014> >


<http://www.pionline.com/storyimage/CO/20120125/CHARTOFDAY/120129934/AR/0/AR
-120129934.jpg&maxw=100&border=0&q=100>

<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1015>
Equity investors vote for gains during election years

As President Barack Obama essentially kicked off his re-election campaign
during the State of the Union address on Jan. 24 while Republicans battle it
out for the nomination, it is worth taking a look at stock market returns
during the past 21 elections. Since 1928, the average total return for the
S&P 500 during an election year was 11.8%, and the median total return was
11.1%, with only three down years over the 21 election cycles.
<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1015> >


012312 davis
<http://www.pionline.com/storyimage/CO/20120123/PRINTSUB/301239979/AR/0/0123
12-joe-davis.jpg&maxw=100&border=0&q=100>

<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1016>
Emerging markets equities face more bumps

Emerging markets equity returns have taken a roller-coaster ride the past
five years, and most experts can't offer much hope for a smoother 2012
thanks in part to the unresolved eurozone crisis.
<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1016> >


012312 christensen
<http://www.pionline.com/storyimage/CO/20120123/PRINTSUB/301239978/AR/0/0123
12-matt-christensen.jpg&maxw=100&border=0&q=100>

<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1017>
Making sure ESG works is next step in its evolution

Money managers and institutional investors are pushing ESG to the edge of
the next step with new tools and metrics.
<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1017> >


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1018> Small-cap
stocks fall short of large-cap brethren in 2011

Small-cap stocks underperformed large-cap stocks in 2011, but dividends
increased faster among smaller companies than among larger ones last year,
according to an annual report by the London Business School.
<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1018> >


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1019> American
Funds loser in passive shift

More than any other mutual fund company, American Funds is bearing the brunt
of investors' latest infatuation with passive investing witnessing up to $81
billion in outflows.
<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1019> >


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in580> View More


People


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1020> Henderson
Global Investors names fixed-income chief

Jim Irvine will become head of fixed income at Henderson Global Investors as
of Feb. 1. <http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1020> >


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in987> View More


International


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1021> Louisiana
State Police Retirement slates shortlist search for international equity

Louisiana State Police Retirement System is conducting an invitation-only
search for an active international growth equity manager to run $15 million.
<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1021> >


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1022> Ameren powers
up 3 international equity managers

Ameren Corp. hired Baillie Gifford, BlackRock and Sanderson Asset Management
to run a total of $142 million in international equities for the firm's $2.9
billion defined benefit plan.
<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1022> >


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1023> The dawning
of the Age of Austerity

As we start a new year, many are asking what the unprecedented events of
2011 mean for investors in the months ahead. PIMCO COO Douglas Hodge offers
some thoughts.
<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1023> >


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in963> View More


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Title

Company

Loc.

Date


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1027> Chief
Information Officer

Illinois State Board of Investment

IL

01/23/12


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1028> Investment
Officer

Alameda County Employees Retirement Association

CA

01/20/12


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in1029> Manager -
Marketing and Communications

RBC Global Asset Management

MA

01/19/12


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in992> Retirement
Administrator

County of Mendocino

CA

01/18/12


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in993> Senior
Business Development Officer

Strategic Investment Group

VA

01/18/12


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in994> Chief
Investment Officer

School Employees Retirement System of Ohio

OH

01/17/12


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in995> Chief
Investment Officer

Los Angeles City Employees' Retirement System

CA

01/12/12


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in996> Chief
Investment Officer

New York State Common Retirement Fund

NY

01/12/12


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in964> Executive
Director

National Council on Teacher Retirement

CA

01/09/12


<http://e.ccialerts.com/a/hBPIWPhB7j4o2B7uYziNsf31jRI/in965> Senior
Investment Consultant

BOK Financial Corporation

OK

01/06/12


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