CIO NextGen: Nominations Open
It’s time for asset owners and managers to help spotlight the industry’s best up-and-comers.
Pensions
UK Universities Launch Largest Strike in History over ‘Radical Changes’ to Pension Plan
University staff start 14 days of strikes at more than 70 campuses.
Asset Management Culture
At Ivy League Endowments, Performance Dragged Down by Managers’ Picks
Private equity had a good year, but individual selections of stocks and other assets hobbled overall showing, report says.
Market Moves
Value’s Latest Dive Shocks Cliff Asness
AQR co-founder had called for adding more low-priced stocks, figuring their bad times had ended. Oops.
Corporate Moves
Skjervem Resigns From Oregon State Treasury
The chief investment officer is moving to an investment management consulting firm in Northern California.
Risk
Texas TRS Looks to Replace Some Public Equity Allocation with Private Credit
The fund’s new CIO Jase Auby describes the portfolio’s new path forward.
Regulation
Stanford University Owes $43 Million Endowment Tax Bill
The university said it is actively working to repeal or limit the 1.4% tax on returns.
Asset Management Culture
Ex-NBA Player Says He Was Denied COLAs in Pension Case
Former Houston Rockets team member Zaid Abdul-Aziz is entitled to additional benefits for the rest of his life, suit says.
Manager Selection
Mississippi PERS Names New CIO After Seven-Month Search
Retirement system names Robert Clark to manage the $29.6 billion portfolio.
Regulation
Proposed UK Law Would Require Pensions to Report Climate Impact, a First Worldwide
However, trade association warns it would give the government ‘unprecedented new powers.’
Market Drilldown
Why Nobody Cares About Trillion-Dollar Deficits
The nation is deep into an economic hole, but right now the huge debt issue is an abstraction with no effect on daily lives. Someday, that will change. Oh, will it ever.
Asset Allocation
Cryptocurrency Scam Allegedly Swindles Doctors Out of $33 Million
Michael Ackerman boasted his algorithm generated monthly profits of 15%.
Asset Allocation
Will the Election Make the Stock Market Volatile?
One-third of investors in poll expect choppy prices as 2020 rolls on.
Risk
Newspaper Company McClatchy Halts Retirement Payouts After Chapter 11 Filing
Company negotiating with PBGC to take over benefit payments amid a new company-wide restructuring plan.
Newsmakers
New Mexico Pension Reform Breezes Through State Senate
Bill proposes $76 million infusion from state, as well as sweeping contribution and COLA changes.
Regulation
UK Charity CEO Jailed for Five Years for Raiding Pension for Disabled
Regulator says fund was stolen from to buy homes in France and England.