The Motley Fool

AUGUST 2, 2024

With nearly half a trillion dollars of assets under management supporting defined benefit and defined contribution plans, PGIM is a market leader, servicing more than half of the world's 300 largest pension funds, including over two-thirds of the largest 100 U.S. pension plans, and is the largest pension fund manager in Japan.

Assets 130

Assets Liabilities Capital Collateral 130

The Big Picture

MAY 9, 2023

So how do you then go from tax and audit practice to finance and investing? If I’d moved to Hong Kong, I think it would have looked like a fairly self-serving tax trade. If you’re dealing with a sovereign wealth fund, that’s a very different conversation — SALISBURY: Yes. Very different fields.

Liabilities 120

Liabilities Assets Banks Hedge Funds 120

Pension Pulse

APRIL 25, 2024

Paula Sambo of Bloomberg reports Canada pension fund's credit head wants to take advantage of leveraged buyout boom: Canada’s largest pension fund plans to nearly double the size of its credit holdings over the next five years, and it’s counting on an upturn in leveraged buyouts to generate some of that growth.

Leveraged Buyouts 59

Leveraged Buyouts Buyout Pension Funds Mergers and Acquisitions 59

Pension Pulse

APRIL 18, 2024

The good news is super wealthy Canadians are going to pay more in capital gains taxes and save our healthcare and economic malaise in one fell swoop! Last week, John Graham, President and CEO of CPP Investments wrote a comment on a national pension promise which I covered here. Taxes are the cure all!" Totally insane!

Pension Funds 59

Pension Funds Investing Taxes Assets 59

Pension Pulse

AUGUST 1, 2023

Among the wealth of tables is a list of the best and worst-funded of the 58 local pension plans studied, and, yes, you guessed it, the bottom five spots are Chicago plans, with the bottom three at levels far below all others: Municipal employees, 21% funded, Chicago police, 21.8% funded, and Chicago fire, 18.8%

Pension Funds 52

Pension Funds Taxes Hedge Funds Debt 52

Pension Pulse

NOVEMBER 20, 2023

Up until 2005, Canadian federal income tax legislation restricted foreign investment by Canadian pensions. And this was now possible because the federal tax restrictions on foreign investment that were in place up until 2005 had been removed. Many Canadian pension must now consider non-Canadian alternatives, such as US TIPS.

Pension Funds 59

Pension Funds Investing Leveraging Assets 59

The Motley Fool

OCTOBER 11, 2024

increased 5%, reflecting a higher tax rate compared to a year ago. Our as-adjusted tax rate for the third quarter was 26%. The prior-year quarter included $215 million of discrete tax benefits, while the third quarter of 2024 was impacted by $22 million of discrete expense. Earnings per share of $11.46

Assets 130

Assets Leveraging Mergers and Acquisitions Mutual Funds 130

The Motley Fool

JULY 14, 2023

Our as-adjusted tax rate for the second quarter was approximately 25%. We continue to estimate that 25% is a reasonable projected tax run rate for the remainder of 2023. The actual effective tax rate may differ because of nonrecurring or discrete items, or potential changes in tax legislation. Operator Thank you.

Asset Management 130

Asset Management Assets Banks Debt 130

The Motley Fool

FEBRUARY 6, 2024

We expect to generate free cash flow in the range of $100 million to $300 million for the full year of 2024, and this includes an approximate $700 million tax refund received during the first quarter of this year. We do not have any required or planned discretionary pension fund contributions in 2024. billion to $2.9

Taxes 130

Taxes Debt Leveraging Banks 130

The Big Picture

SEPTEMBER 19, 2023

Previously she was Chief Investment Officer at various state pension funds, including Maryland and Hawaii. So you end up going from the fund of funds to pension funds. I had a a two brief jobs between the, the fund of funds in Maryland and business school in between there. Absolutely.

Asset Management 59

Asset Management Assets Pension Funds Hedge Funds 59

Tucker Advisors

SEPTEMBER 8, 2021

The 401(k) often offers a traditional pre-taxed account and a post-taxed Roth account, with both sourced in a blend of stock and bond options the employee must choose and maintain with the appropriate risk tolerance until retirement. But, without pensions, employees also can’t predict an exact monthly income for their retirement.

Mutual Funds 52

Mutual Funds Taxes Liabilities Pension Funds 52

Pension Pulse

JULY 4, 2023

The company is still in talks with its shareholders about raising as much as £1 billion in fresh funds following a £500 million injection agreed last year. Its largest shareholder is Canadian pension fund Ontario Municipal Employees Retirement System (Omers), which holds a nearly 32 per cent stake. billion in Canadian funds.

Pension Funds 52

Pension Funds Debt Shareholders Stakes 52

The Motley Fool

FEBRUARY 22, 2024

One housekeeping item before discussing our results, we have reclassified digital services taxes into sales and other expenses and out of G&A expense. The liability we recorded in our Q4 results is for prior periods related to this pension plan. Our average share count in the fourth quarter was 9% below Q4 2022.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Leveraging Shareholders Pension Funds 130

The Motley Fool

APRIL 23, 2024

I would note that our first quarter effective tax rate of 13.5% benefited from favorable discrete items and higher excess tax benefits recognized on stock-based comp vested in the period. For the remainder of the year, we expect the quarterly effective tax rate of 21% to 22% each quarter before any discrete items.

Mergers and Acquisitions 130

Mergers and Acquisitions Hedge Funds Asset Management Banks 130

Pension Pulse

FEBRUARY 12, 2024

The governance at all of Canada's Maple Eight pension funds is a hundred times better than it was back in the great financial crisis (GFC) and that includes CDPQ. And again, this isn't socialism, this is good pension policy and doing what's right for the broad population. Over 20% of Canadians participate in this arrangement.

Taxes 59

Taxes Amortization Finance Financing 59

The Motley Fool

OCTOBER 31, 2023

Over the past 36 years, Burgiss has created greater private asset transparency while serving institutional investors such as pension funds, endowments, foundations, and family offices. Additionally, I would highlight that we expect lower interest income on our cash balances as a result of funding purchase.

Assets 100

Assets Hedge Funds Capital Leveraging 100

Pension Pulse

MAY 24, 2023

In private credit, tightening credit conditions resulting from a handful of bank failures and rescues in the United States have opened up opportunities for non-bank players like pension funds, he said. Public Equities include absolute return strategies and related investment liabilities. per cent return.

Investing 52

Investing Stakes Pension Funds Assets 52

The Big Picture

MARCH 5, 2024

So I saw many companies then taxed and financial services. So a town 20 minutes from Burn, it was a tax free Canton. But no taxes, no income taxes. You’ve talked about pensions are now facing illiquidity issues because private equity and venture capital have gates up a lot, a lot of long-term tie up.

Capital 59

Capital Hedge Funds Banks Assets 59

The Big Picture

NOVEMBER 8, 2022

Well, the way I see negative rate is it’s a tax on capital, which is instituted by an unelected — RITHOLTZ: Central bank. pension funds engaged in to the tune of hundreds of billions of pounds. CHANCELLOR: — central bank, or policymaker, without any one voting for it.

Finance 59

Finance Financing Banks Hedge Funds 59

The Big Picture

AUGUST 15, 2023

And the question was if you can find other areas of investment that can generate the types of returns you need for your liability stream, diversification becomes the free lunch. SEIDES: John Yeah, I said back then, the bet started in 2007 and I say today, being in the market and investing in hedge funds is completely apples and oranges.

Hedge Funds 52

Hedge Funds Funds Capital Assets 52

Pension Pulse

MARCH 13, 2025

Jameson Berkow of the Globe and Mail reports PSP Investments buys stake in Ontarios 407 highway, the pension funds largest Canadian investment: Public Sector Pension Investment Board is making its largest-ever investment in Canada with a multibillion-dollar deal to acquire a piece of Ontarios 407 ETR toll road. CPP will own 44.2

Pension Funds 105

Pension Funds Investing Stakes Assets 105

Pension Pulse

JULY 24, 2023

pension fund, has only about 11% of its assets invested in private equity, while Norway’s oil fund, one of the world’s largest wealth funds, has no investments in private equity at all. per cent of the fund’s $25 billion in assets are invested in firms operating in the “Casinos and Gaming” industry.

Pension Funds 88

Pension Funds Private Equity Firms Private Equity Firms Investing 88

The Motley Fool

APRIL 12, 2024

Our as-adjusted tax rate for the first quarter was approximately 23% and included discrete tax benefits related to stock-based compensation awards that vest in the first quarter of each year. These inflows were partially offset by seasonal tax trading-related outflows from our U.S. style box exposure in Precision ETFs.

Performance Fees 130

Performance Fees Assets Shareholders Leveraging 130

The Motley Fool

JANUARY 12, 2024

Our as-adjusted tax rate for the fourth quarter was approximately 24%, driven, in part, by discrete items. We currently estimate that 25% is a reasonable projected tax run rate for 2024, though the actual effective tax rate may differ because of nonrecurring or discrete items or potential changes in tax legislation.

Assets 130

Assets Shareholders Asset Management Capital 130

The Big Picture

FEBRUARY 28, 2023

I was talking to one of our founders, he said, look, a lot of people think we’re in Zug for tax reasons. RITHOLTZ: And are there that much tax advantages to be in Switzerland if you’re operating throughout Europe? Look, our parents all had pension funds. It’s been primarily pension, historically.

Assets 59

Assets Due Diligence Private Equity Firms Private Equity Firms 59

The Motley Fool

JULY 15, 2024

Our as-adjusted tax rate for the second quarter was approximately 24%. We continue to estimate that 25% is a reasonable projected tax run rate for the remainder of 2024. The actual effective tax rate may differ because of nonrecurring or discrete items or potential changes in tax legislation. RIA, a U.K.

Assets 130

Assets Liabilities Leveraging Asset Management 130

Pension Pulse

DECEMBER 3, 2024

billion in the Public Service Pension Fund from the previous fiscal year will be shifted to general revenues. Labour leaders say workers also contributed to the fund and should benefit from any surplus, rather than having the money go toward other priorities such as new spending or reducing the size of the deficit.

Pension Funds 52

Pension Funds Funds Venture Capital Liabilities 52

Pension Pulse

NOVEMBER 27, 2024

Every Canadian that works or is self-employed contributes to the Canada Pension Plan. The folks at CPP Investments are investing across public and private markets all over the world and with the best hedge funds all over the world. For John, navigating change is what makes his work interesting and engaging.

Pension Funds 59

Pension Funds Hedge Funds Education Liabilities 59

The Motley Fool

OCTOBER 29, 2024

In Asia, for example, a large public pension fund made MSCI their primary risk analytics provider leveraging our highly competitive mix of applications, sophisticated algorithms, specialized data and managed services. In the third quarter, one of our pension fund clients in Europe ceded a $1.6

Asset Management 130

Asset Management Assets Hedge Funds Pension Funds 130

The Big Picture

FEBRUARY 5, 2025

The biggest difference for those institutions and high-net-worth individuals is taxes. Most hedge fund strategies are tax-inefficient. There are only some hedge fund strategies, and they tend to be things like activism that have longer duration investment holding periods, that make sense for taxable investors.

Hedge Funds 59

Hedge Funds Funds Taxes High Net Worth Individuals 59

The Motley Fool

JANUARY 15, 2025

EPS also reflected a lower tax rate partially offset by lower nonoperating income and a higher share count in the current quarter. Our as-adjusted tax rate for the fourth quarter was approximately 21% and benefited from discrete items. We currently estimate that 25% is a reasonable projected tax run rate for 2025.

Assets 130

Assets Shareholders Capital Asset Management 130

The Motley Fool

JANUARY 29, 2025

billion from one of our large pension fund clients. Free cash flow guidance reflects higher cash tax payments in Q1, some of which we deferred during 2024. As a reminder, our 2024 free cash flow reflected cash tax timing impacts, of which about 30 million is resulting in elevated payments in 2025.

Asset Management 130

Asset Management Hedge Funds Assets Mergers and Acquisitions 130

The Big Picture

JUNE 20, 2023

RITHOLTZ: It’s a liability on the books. Pension funds, perhaps, maybe aren’t growing as much as they need them to. RITHOLTZ: Clearly, 401(k) is not a much faster growing part of the allocation landscape than either direct benefits or pensions, if anything, that side of the street is shrinking dramatically.

Private Equity Firms 59

Private Equity Firms Private Equity Firms Finance Financing 59

Pension Pulse

OCTOBER 21, 2024

As Francois pointed out last week, fiscal stimulus has its limits and at one point, just like in England, the market might react negatively to tax cuts and rates can go back up. Take the time to read my recent comment going over Francois Trahan and Martin Roberge's presentations at Quebec ANEB last week.

Pension Funds 59

Pension Funds Finance Financing Debt 59

Pension Pulse

OCTOBER 25, 2024

I know, the presidential election is right around the corner, Trump has an edge over Harris and if he wins, he's threatening to impose tariffs and cut taxes. I drew that line around 4.3% because I have a hard time seeing the 10-year rate backing up much higher, maybe 4.5% but that's it and then I expect the rally in long bonds to resume.

Pension Funds 59

Pension Funds Debt Liabilities Taxes 59

Pension Pulse

DECEMBER 12, 2024

billion in the Public Service Pension Fund as of March 31, 2024. Anand said the government planned to transfer the surplus to its Consolidated Revenue Fund a central government bank account. The government is required by law to take action as the Income Tax Act limits the amount of surplus a pension fund can have.

Pension Funds 59

Pension Funds Legal Liabilities Funds 59

The Motley Fool

JANUARY 31, 2025

Maybe the first is we recognized some tax charges and earnings related to our recently completed Canadian asset sale, and that was around $1.5 It's important to note that these tax charges are offset in working capital. But if you exclude the working capital when you're looking at cash flow, you're still going to see that tax charge.

Assets 130

Assets Capital Shareholders Taxes 130