Tue, Sep 27, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Opportunities for alternatives lie in private sector pension fund shortfall

Monday, November 05, 2012

amb
Shane Brett
Beverly Chandler, Opalesque London: In his latest white paper, Shane Brett of hedge fund consultancy firm Global Perspectives looks at the subject of Asset management & the future Global Pension Crisis, and how alternatives can help fill the gap.

Brett opens with a quote from The New York Times from 2010. "Prichard is the future, were all on the same conveyor belt. Prichard is just a little further down the road" Michael Aguirre wrote at the time.

Back in 2009 the small Alabama city of Prichard, outside Mobile became the first city in America to stop paying pensions to its retired workers. It actively chose, despite State court orders to the contrary, to put funding into services such as hospitals, street lights and teachers salaries. The result has been that it could not fund the citys pension liabilities and many affected retirees have now filed for bankruptcy or been forced back to work.

Brett says: "This is the future across the developed world". While private sector workers have known for some time that they are responsible for paying for their own futures lives in retirement, Brett says: "The big change over the next couple of decades will be in the public sector. This will be the inability of rich world governments to fund their public sector employee pensions."

Further troubles lie with the ageing populations across Europe. "The German economy m......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  2. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  3. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  4. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  5. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style