IFS in the News

Pensions & Investments cited IFS as one of the relatively few investment advisory firms that acts as an ‘outsourced fiduciary’

Submitted by IFS on Tue, 07/26/2011 - 22:09
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The July 11, 2011, edition of Pensions & Investments cited IFS as one of the relatively few investment advisory firms that acts as not only as an investment consultant, but also as an “outsourced fiduciary” or  “outsourced manager”, with responsibilty to implement investment decisions across an entire investment portfolio.  We sometimes perform that role as an “investment manager” under ERISA, and sometimes as a “named fiduciary.”  Clients include defined benefit, defined contribution and VEBA funds as well as other institut

Are in-Kind Contributions for Public Pensions an Overlooked Opportunity?

Submitted by IFS on Tue, 07/26/2011 - 22:05
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For over 20 years, IFS has acted as an independent fiduciary under ERISA, regarding  in kind contributions of real estate to corporate pension plans.  Now, IFS is exploring whether and how governmental plan sponsors and public pension and retiree medical funds may engage in similar transactions, to help alleviate severe constraints on cash and serious funding pressures.  Here’s an article from aiCIO magazine, describing the idea…..

http://www.ai-cio.com/channel/NEWSMAKERS/Are_in-Kind_Contributions_for_P...

International Foundation of Employee Benefit Plans (IFEBP) publishes IFS Authored Article - "A Contemporary View of Portfolio Risk and Diversification"

Submitted by IFS on Thu, 01/06/2011 - 20:57
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In its January 2011 edition of Benefits Magazine, the IFEBP published "A Contemporary View of Portfolio Risk and Diversification" authored by Edward Patchett, CFA and Jonathan Horgan, CFA, CAIA. In the article, Messrs.

Independent Fiduciary Services Now Offers Middle-Range Public Pension Funds a Specially-Tailored Operational Review

Submitted by IFS on Mon, 09/13/2010 - 03:13
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Independent Fiduciary Services, a Washington based registered investment adviser, will today launch a new methodology to provide its fiduciary and operational review services – using internet technology and its proprietary practices and risks database – to the middle-range of public defined benefit pension funds with assets between $250 million to $5 billion.  Prior to the launch, few such middle-range public pension funds benefitted from fiduciary and operational reviews because the costs were perceived as too high.

aiCIO Quotes Skip Halpern Concerning the Attempts by Mayor Michael Bloomberg to Overhaul the Management of the New York City Pension Fund

Submitted by IFS on Thu, 03/17/2011 - 20:09
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 aiCIO Magazine Exclusive: That Mayor Michael Bloomberg of New York City is attempting to renegotiate public sector benefits is well known. That he is also trying to overhaul the management of the pension’s existing capital is less well covered. An aiCIO Magazine exclusive look at how one of America’s most prominent citizens is tackling one of its most difficult problems.

The World Bank Publishes IFS Authored Chapter in New Book - "Governance and Investment of Public Pension Assets/Practitioner's Perspectives"

Submitted by IFS on Tue, 12/28/2010 - 22:26
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The World Bank has just published Governance and Investment of Public Pension Assets/ Practitioner’s Perspectives, including chapters “from more than 30 pension fund practitioners, policy makers, regulators and experts from around the world.”   The volume is designed as “an accessible guidebook for senior policy makers seeking practical ways to tackle the issues they face in governance and investment of public pension assets.”   IFS President Samuel (Skip) Halpern authored a chapter entitled “Key Ingredients in Developi

Ford Revs Up UAW Fund with $3.76 Billion - IFS in Pensions & Investments

Submitted by IFS on Wed, 07/28/2010 - 22:55
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"The UAW Retiree Medical Benefit Trust continues the process of diversifying the trust's assets.." Samuel W. Halpern of IFS talks with Pensions & Investments... 

Link to the July 12, 2010 Article:

http://www.pionline.com/apps/pbcs.dll/article?AID=/20100712/PRINTSUB/307129975&cslet=UnhOY2lLVDlLUE9lK2pVaXY3amNMcFVadWUzanRtVE1NYnJGaXc9PQ==

UAW Retiree Medical Benefits Trust Completes $3 Billion Sale of Ford Note

Submitted by IFS on Wed, 06/30/2010 - 15:56
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WASHINGTON, D.C., June 30, 2010 – The UAW Retiree Medical Benefits Trust will receive total net cash proceeds of approximately $3.76 billion from the Ford Motor Company. Please see the attached Press Release for further details regarding the pivotal role that IFS played in this series of transactions:

IFS Role with the Los Angeles City Employees' Retirement System

Submitted by IFS on Wed, 05/19/2010 - 23:24
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IFS was mentioned in recent editions of FundFire and Pensions & Investments (May 19th) concerning our role with the Los Angeles City Employees' Retirement System and their recent efforts to consolidate with other plans.  A link to the Pensions & Investments article is attached:

IFS Sells $1.78 billion in Ford Warrants, as Independent Fiduciary to UAW VEBA

Submitted by IFS on Thu, 04/01/2010 - 04:01
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On March 30, IFS—acting as independent fiduciary to the United Auto Workers Retiree Medical Trust—completed a sale of all the warrants that Ford had recently contributed to the VEBA, pursuant to a Labor Department prohibited transaction exemption.  The VEBA Committee had selected IFS to decide whether, when and on what terms to sell the warrants.  To help diversify the VEBA’s investments and for other reasons, IFS decided to sell as many of the warrants as possible and this auction resulted in selling them all.  The net proceeds from IFS’ sale of

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