Market Drilldown
Risk Reduction Key to ESG Investing’s Appeal
Questions remain about the impact on performance, but risk reduction gains champions.
CalPERS Advisor: As Tech Startup Model Shifts, Direct Investment Model Makes Sense
Fewer IPOs mean operational efficiencies rather than leverage become more important for private equity portfolio company exits, Sonsini says.
Alcoa De-Risks $290 Million in Pension Obligations
Company also makes $100 million pension contribution.
Risk
Canada’s Top Public Pension Returns 1.8% in Fiscal First Quarter
Plan now stands at $278.9 billion.
Europe Poised to Break Venture Capital Records
The nation’s VC deals and growth fundraising have been climbing to new heights since 2016.
Newsmakers
Jenny Chan Becomes CIO of Philly Children’s Hospital
She will become the new chief investment officer for the organization.
Newsmakers
CalPERS Cuts Most of Its Forestland Investment Program
Eighty percent of plan’s timber portfolio was sold at a large loss last month.
Sell in May and Go Away—Not Quite
This summer has produced a nice rally, and LPL says that portends a good run the rest of the year.
OMERS, PGGM Acquire Puget Sound Stake from Macquarie
The Canadian and Dutch pension funds collectively own a third of the electric and natural gas supplier.
Fresh Signs of Stock Market Bullishness
Polls, options, and the fear gauge all point in a sunny direction, for now.
Risk
Maryland State Retirement System Returns 8% for Fiscal 2018
Private and public equities lead the way with double-digit gains.
Corporate Moves
Andrew Allright Named CEO of State Street’s Hedge Arm
Allright replaces InfraHedge’s co-founder Bruce Keith, who left in January.
UK’s CDC Proposal Panned by Think Tank
Report says ‘superfluous’ CDC pensions could cause ‘irreversible intergenerational injustice.’
US Remains Center of Hedge Fund Universe
Report finds US holds 72% of the global hedge fund assets.
Does Value Stocks’ July Rebound Mean the Expansion Is About Over?
Historically, value outperformance happens when an economic boom has played out.
Risk
Switzerland’s Largest Pension Fund Trims Equities for Real Estate
Publica has cut some stocks to de-risk, and will also sell some of its bonds as part of a new strategy.