Coronavirus - COVID-19
Wells Fargo Predicts 10-Year T-Note Will Rise Above 1%
Now at a 0.63% yield, the benchmark bond should move up due to better economic and virus news, says bank’s strategist.
News Archive: Apr - 2020
Asset Management Culture
Oxford University Bans Fossil Fuel Investments
The endowment’s allocation to the energy sector has already been significantly reduced to 2.6% of its portfolio.
Research
Corporate Pension Funding Ratios Nearly Flat in 2019 Despite 17.3% Returns
Plunging discount rates offset second-largest investment return in 20 years.
Risk
University of Texas Endowment Oil Money In Jeopardy
Top official of university organization that manages mineral rights for the endowment calls for Texas oil production cuts.
Asset Allocation
Bad Breadth: 5 Giants’ Market Dominance Is a Grim Sign, Goldman Says
History shows that the lofty status of Microsoft and its tech peers could lead to a deep market rout, the firm warns.
Corporate Moves
Japan’s GPIF Seeking Active and Passive Managers for Foreign Bonds
The giant pension fund seeks to diversify away from low-yield Japanese bonds.
Coronavirus - COVID-19
COVID-19 Layoffs Can Mean PBGC Reporting Obligations
PBGC monitors workforce reductions, so plan sponsors must be vigilant.
Asset Allocation
New York Pension Fund to Supplement Federal Small Business Loans
The state hardest hit by the coronavirus is bolstering relief efforts.
Newsmakers
Tufts University CIO Sally Dungan Dies of Cancer
Dungan, who had led the $2 billion fund for nearly 18 years, is credited with creating Tufts’ Investment Office.
Market Moves
Dogs of the Dow Get Bitten
Storied value play, usually a can’t-miss strategy, falls afoul of the recession and oil bust.
Asset Management Culture
Tesla Recruits Former CIO of $1.5 Trillion Japanese Pension Fund GPIF
Hiromichi Mizuno joins Tesla to serve the board as an independent director and on its audit committee.
Asset Management Culture
Too Rich to Need It? Top Colleges Back Away from US Virus Money
Harvard, Penn, Yale act after Trump administration says subsidies should go to less wealthy institutions.
Asset Management Culture
State Education Budgets Fail to Keep Up with Pension Costs
Report says paying for pensions should come from sources other than education budgets.
Opinion
Op-Ed: U.S. Public Pension Underfunding—Don’t Make the Same Mistake Thrice
As some lawmakers suggest states consider declaring bankruptcy, governments will be tempted to cut back on pension contributions. Amundi Pioneer senior adviser Charles E.F. Millard urges them not to do so.
Asset Allocation
Washington State Board Makes Up To $1.9 Billion in Extra Private Market Commitments
New allocation adds to WSIB’s already outsized allocation to these assets, which has helped cushion it amid equity market turbulence.