Subject: FW: P&I Investments Digest: Market disconnect
From: "Neil Callahan" <[email-masked]>
To: "'Devon Archer'" <[email-masked]>, "'Hunter Biden'" <[email-masked]>, "'Eric Schwerin'" <[email-masked]>, <[email-masked]>
Date: Thu, 31 Mar 2011 09:54:56 -0400

New Jersey looks to boost alternative investments limit

By  <http://www.pionline.com/apps/pbcs.dll/personalia?ID=RSTEYER> Robert Steyer March 24, 2011, 2:51 PM ET 

Bloomberg

New Jersey Gov. Chris Christie

The New Jersey State Investment Council, Trenton, on Thursday approved new rules that would allow the state's pension system to place as much as 38% of assets in alternative investments, up from the current cap of 28%.

The actual allocation now is 16.9%, according to the state Division of Investment, which makes investments for $71.6 billion in state pension assets. 

The new rules define four alternative investment categories and set caps for each: real estate, 9%; real assets, 7%; private equity, 12%; and absolute return, 15%.

The new authorization is subject to a 60-day public comment period. It is scheduled to take effect in May.

Read more:  <http://www.pionline.com/article/20110324/DAILYREG/110329952#ixzz1IBXIchJj> http://www.pionline.com/article/20110324/DAILYREG/110329952#ixzz1IBXIchJj

 

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Neil Callahan

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From: P&I Investments Digest [mailto:[email-masked]] 
Sent: Thursday, March 31, 2011 9:37 AM
To: [email-masked]
Subject: P&I Investments Digest: Market disconnect

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Issue Date: Thursday, March 31, 2011 

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News

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	 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in5> Market disconnect 

Recent S&P 500 returns have outperformed prior expansions  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in5> »

 Photo: BlackRock's Turnill: The bull is back <http://www.pionline.com/apps/pbcsi.dll/urlget?url=/assets/graphics/CO73335324.JPG&maxw=100&border=0&q=100> 

	 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in6> BlackRock's Turnill: The bull is back 

BlackRock's head of global equities Richard Turnill speaking at P&I's DC East 2011 conference offered encouragement that a global bull market is continuing, albeit at a modest pace.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in6> »

  <http://www.pionline.com/apps/pbcsi.dll/storyimage/CO/20110330/CHARTOFDAY/110339987/AR/AR-110339987.jpg&maxw=100&border=0&q=100> 

	 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in7> Home prices show no signs of recovery through January 

The Case-Shiller 20-City Composite Home Price index fell 3.1% in January vs. a year earlier. Only two cities had positive annual growth rates during the month and 11 cities posted new index lows.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in7> »

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	 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in8> San Diego County reviewing Molpus commitment 

San Diego County Employees' Retirement Association will be reviewing its $50 million commitment to Molpus Woodlands III ”out of an abundance of caution,” according to a memo to the board of the $7.99 billion system from CEO Brian White posted on the association's website.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in8> »

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	 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in9> Sears to put $343 million into U.S. plan 

Sears Holdings Corp. expects to contribute $343 million to its U.S. defined benefit plan and US$9 million to its Canadian defined benefit plan in 2011, according to is 2010 10-K filing.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in9> »

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	 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in10> Lockheed Martin investment unit names CIO as president 

Christopher Li was named president of Lockheed Martin Investment Management Co., which manages the retirement plan assets of Lockheed Martin Corp., Bethesda, Md.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in10> »

 Photo: Texas County ups alternatives target  <http://www.pionline.com/apps/pbcsi.dll/urlget?url=/assets/graphics/CO7269128.PNG&maxw=100&border=0&q=100> 

	 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in11> Texas County ups alternatives target 

Texas County & District Retirement System increased its target allocation to alternatives as part of a new asset mix for the $18 billion system.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in11> »

 Photo: Texas pension group members return 10.6% <http://www.pionline.com/apps/pbcsi.dll/urlget?url=/assets/graphics/CO73371328.JPG&maxw=100&border=0&q=100> 

	 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in12> Texas pension group members return 10.6% 

Public plans that are members of the Texas Association of Public Employee Retirement Systems returned an average 10.6% for the year ended Sept. 30, beating an average actuarial assumption of 8.2%, according to a survey by the association.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in12> »

 Photo: New Jersey looks to boost alternative investments limit <http://www.pionline.com/apps/pbcsi.dll/urlget?url=/assets/graphics/CO7273329.JPG&maxw=100&border=0&q=100> 

	 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in13> New Jersey looks to boost alternative investments limit 

The New Jersey State Investment Council on Thursday approved new rules that would allow the state's pension system to place as much as 38% of assets in alternative investments, up from the current cap of 28%  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in13> »

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Louisiana State Employees' Retirement System will conduct a shortlist search for managers to run $100 million in growth equity private equity and $80 million in European distressed private equity.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in14> »

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People

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International

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Avon Pension Fund terminated hedge fund-of-funds manager Lyster Watson, which ran about £10 million, as part of the £2.7 billion fund’s reorganization of its hedge funds-of-funds portfolio.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in18> »

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Stichting Nedlloyd Pensioenfonds hired Threadneedle Asset Management and MFS Investment Management to run a combined €60 million in active European equities.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in19> »

 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in20> EquitySuper tops up with Tribeca small caps 

EquitySuper, with A$1 billion (US$1.025 billion) in assets, hired Tribeca Investment Partners to run A$20 million in small-cap equities.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in20> »

 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in21> 2 Swedish funds create firm for commercial real estate 

AP1 and AP2 will create a joint company to invest a combined €500 million in direct commercial real estate.  <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in21> »

 <http://e.ccialerts.com/a/hBNlIKOB7j4o2B7uYziNsf31jGl/in22> View More 

 

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