April 1993

Another Big Year for US Investment Abroad

Undeterred by a nearly 14% negative return on EAFE, Morgan Stanley Capital International's benchmark non-US equity index, US investors continued to pour new money into overseas stock markets last year

Calling In the Sharks

Pension funds have traditionally shied away from suing their managers, brokers, and trust banks. But that attitude may now be changing.

Hanged In Effigy

Harvard Management's suit against Merrill Lynch shows that even the sophisticated can be taken for a ride.

Everything New is Old Again

For pensions, the Clinton economic team presents a mixed bag of some good news, some bad news, and an enigma.

Mending the Dam

Will the PBGC shortfall be Clinton's S&L crisis?

Catch-401 (k)

Defined contribution plans are sweeping the nation. But the trend has its problems-and it is not yet clear whether anyone can save 401(k) investors from themselves.

The Quiet Lobbyist

Private pension funds have struggled to find a voice for their investment concerns in Washington. In CIEBA, they may have found it-right at the time when it has become critical.

Dealer’s Choice

Pension funds' fixation on commission costs has helped create a market that often works against their own interests. To solve the problem, they must learn to look more carefully at what happens after they place an order.

Canada’s Harvest of Embarrassment

Few front-running cases ever reach the public gaze. One that did was the case against Dominion Securities broker Michael Biscotti.

Union-Made

The AFL-CIO gets serious about developing an integrated pro-labor investment strategy for its pensions. New guidelines sanction both foreign investing and ETIs

Multifamily Madness

Mortgage-backed securities have not held much appeal for pensions in a long time. But a bubbling market in multifamily paper may change that.

Passing the Quality Test

Total quality management is catching on with private plan sponsors. For some, it means revamping-even reducing-the fund's outside manager relationships.

Georgia On My Mind

What do you do when your investment manager has a public relations problem that could turn into a disaster?

Ontario’s Infrastructure Skirmish

The province's socialist government wanted to combine its five big pension funds to promote infrastructure investment. When the funds balked, the government backed off

The Year of the Pension

Changes are in the air as Japan's pension system readies for its five-year check-up in 1993.

Coming Home

In-house options strategies are on the rise at pension funds.

Looking for the Payoff

Two recent studies indicate that corporate governance initiatives can indeed boost the bottom line for pensions that want to be activist investors.

No More Welfare State

A shareholder revolt in the Netherlands offers hope for investors frustrated by low returns on big Dutch multinationals.

STIF-Arming

"Enhanced" STIFs are appealing to pension sponsors in search of greater yield on their cash balances.

Head Start

With FAS 106 now in effect, health benefit accounting is an urgent issue for US companies. The best approach is to start planning early. Very early.

The Cost of Going Green Again

Their future still in question, nuclear decommissioning trusts are not rushing to take advantage of lower tax rates and new, looser investment restrictions.

Hope for the Little Guy

With or without Washington's help, the first tax-advantaged, pooled funds for small foundations is expected to be launched this year.

The Bloomberg Factor

While many plan sponsors find Bloombergs useful, only the most sophisticated consider the popular information and analytics tool a must-have.

Cracks in the Facade

Canada's trust services market is opening up. For pensions the results are competition, lower fees, and lots of new products.