News & Analysis as of

Pensions Investment Funds

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

401(k) Mutual Fund Fees Hit Historic Lows—Again

The Investment Company Institute (ICI) just confirmed what many of us have seen on the ground: 401(k) mutual fund fees keep dropping, and that’s great news for plan participants....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Overpaying for Underperformance: A Fiduciary Breakdown in Plain Sight

A massive new study by Abernathy-Daley covering nearly 58,000 corporate 401(k) plans delivered a simple—but startling—message: virtually every plan suffers from overpriced, underperforming funds. In fact, 99% of plans have at...more

Latham & Watkins LLP

US Government Reopens Discussion of Private Pension Investments Expectations

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The Department of Labor has taken two recent actions that indicate where the approach to retirement investment policy may go under the new administration....more

Herbert Smith Freehills Kramer

Hong Kong listing pathway for closed-ended alternative asset funds – our latest thoughts A recent SFC circular has generated...

A recent circular issued by the Hong Kong Securities and Futures Commission (SFC) has created a pathway to listing closed-ended alternative asset funds in Hong Kong, generating interest among both local private market...more

Goodwin

Gaining Access to UK Pension Investors: Key Questions for Private Fund Managers

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We have written about the opportunities for the managers of private funds, such as private equity, real estate, venture, and infrastructure managers, to increase the investor base for the funds they manage (funds) to include...more

Goodwin

Germany Creates Improved Framework Conditions for Investments in Infrastructure Funds

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Conditions for direct or indirect investment in infrastructure have significantly improved for German regulated investors covered by the Investment Ordinance (Anlageverordnung) in regard to the investment of their secured...more

Paul Hastings LLP

Private Debt Explosion: Breaking New Ground

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In the last 12 months, we have seen private debt markets take off over other strategies. In particular, there are now more creative ways of bringing in new types of investors to this asset class, including insurers, pension...more

Goodwin

The King’s Speech: Reinforcing The Retailisation of Private Funds

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The Pension Schemes Bill announced in the King’s Speech on 17 July builds on the UK Government’s drive to encourage defined contribution (DC) pension investment in long-term illiquid investments such as private equity,...more

Mayer Brown

DB Pension Scheme Funding – Pensions Regulator 2024 Annual Funding Statement

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The Pensions Regulator (TPR) has published its 2024 annual funding statement which is targeted at DB schemes undergoing valuations with effective dates between 22 September 2023 and 21 September 2024. It is also relevant to...more

Cadwalader, Wickersham & Taft LLP

Cascading Into Spring March 2024 - Cascading Security

With the increasing complexity of fund structures and the growing prevalence of US Pension Funds in the European market, we have seen an uptick in the number of queries particularly from European banks and funds around how to...more

DLA Piper

Management Rights Letters: What they are, why they are important and potential traps to be mindful of

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What are they? A letter agreement between a portfolio company and an investing venture capital fund which provides the venture capital fund with certain “management rights” that allow it to substantially participate in, or...more

Cadwalader, Wickersham & Taft LLP

Climate Suit Against Directors of UK’s Largest Pension Plan Heads to Appeals Court

A British appeals court will review the 2022 dismissal of a novel lawsuit accusing current and former directors of the United Kingdom’s largest private pension plan of mismanagement for, among other reasons, failing to divest...more

Holland & Knight LLP

SFC expide norma sobre la relación de solvencia de administradores de activos de terceros

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La Superintendencia Financiera de Colombia (SFC) expidió recientemente la Circular Externa No. 03 de 2023 con el objetivo de impartir instrucciones para el cálculo de la relación de solvencia de las sociedades que administran...more

Seward & Kissel LLP

[Event] Getting a Deal Done: M&A Opportunities for Asset and Wealth Managers - October 26th, New York, NY

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What to expect? The first half of 2022 marked another banner period for asset and wealth management deals, with deal volume up 11% compared to the same period in 2021, according to PWC. And the market for buying and selling...more

BCLP

FCA finalises its rulebook for the new UK authorised open-ended fund to invest in illiquid assets: the Long Term Asset Fund (LTAF)

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The FCA’s Policy Statement published on 25 October 2021 provides feedback to its May 2021 consultation (the Consultation) and sets out the final rules and guidance for the new authorised open-ended fund regime to invest in...more

Fisher Phillips

Mixed News for Employers as PBGC Releases Multiemployer Bailout Plan Rule

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The federal agency overseeing voluntary private defined benefit pension plans just issued its Interim Final Rule on how withdrawal liability will be impacted by the billions of dollars that will be paid to failing...more

Hogan Lovells

Funds and asset management regulatory news, October 2020 # 2

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Climate-related disclosures for asset managers and FCA-regulated pension schemes: FCA correspondence - Correspondence about climate-related disclosure requirements for asset managers and UK Financial Conduct Authority...more

Groom Law Group, Chartered

IRS Proposes Rules on UBIT Changes Affecting Benefit Plan Investors

A pension or welfare plan’s investment in a private equity or real estate partnership, among other investment funds, may give rise to “unrelated business income tax” (“UBIT”)....more

Latham & Watkins LLP

Viewpoints: Portfolio Company Pension Liabilities

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New York partner Bradd Williamson, Global Chair of Latham’s Benefits, Compensation & Employment Practice, and Chicago partner Robin Struve discuss Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry...more

Latham & Watkins LLP

Investment Funds: Sun Capital Reversal Offers Important Takeaways Regarding Portfolio Company Pension Liabilities

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The First Circuit reverses a lower court decision and finds two Sun Capital private equity funds are not liable for portfolio company’s pension plan liabilities under ERISA. On November 22, 2019, the United States Court of...more

McDermott Will & Schulte

Big ERISA Decisions on the Horizon—SCOTUS to Review Third ERISA Case this Term

The US Supreme Court recently agreed to review the Eighth Circuit’s decision in Thole v. US Bank, in which the Eighth Circuit held that participants in an overfunded defined benefit pension plan lack standing to sue for...more

White & Case LLP

Proposed bill to reform the Retirement Savings Systems Law

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On January 23, 2019, a bill proposed by the Mexican Federal Executive branch was published in the House of Representatives Parliamentary Gazette, with the purpose to amend, add and repeal various provisions of the Retirement...more

Jones Day

PA Commission Scrutinizes Active Management of Public Pension Assets

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Will this—and similar review in other states—lead to major litigation and regulatory activity? Active management of pension fund assets, and the associated fees generated for advisory firms, has come under scrutiny in...more

Proskauer - Corporate Defense and Disputes

SEC Staff Announces 2017 OCIE Examination Priorities

On January 12, 2017, the staff of the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) released its annual announcement on examination priorities in the coming calendar...more

Latham & Watkins LLP

EU Workplace Pensions Now Required to Incorporate ESG Issues

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A new pensions directive was passed by the European Parliament on 24 November securing 512 votes (only 77 votes against and 40 abstentions), requiring EU workplace pension funds to consider environmental, social and...more

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