For the world’s largest asset owners
August 26, 2019
In Focus: Oft-Touted Risk Premia Strategies Show Their Weak Side
Meant as hedge fund replacements, they haven’t kept up with the market, though they’ve improved this year.
Dean Takahashi, Yale’s Robin to David Swenson’s Batman, Exiting Endowment

Legendary investor, thought to be chief’s successor, leaving after more than 30 years with the organization.

Hooray, LDI Is Progressively Making Corporate Pension Portfolios Less Risky
Lower Interest Rates Will Shrink Pension Funding Status, Goldman Warns
Exclusive: Texas Treasury Safekeeping Trust Co. CIO Retiring
GP-Led Secondaries Force Investors to be More Reactive
Steve Schwarzman Knocks Beijing, as Business Chiefs Grow Leery on Trade Tiff
Partial Risk Transfers: Less Than Meets the Eye

Actuarial firms, bankers and insurance companies have been urging U.S. defined benefit plan sponsors to transfer their liabilities to a third party. Transferring the total liability has proven too onerous for most plan sponsors, so these institutions have been pitching partial risk transfers (PRT) instead. However, the touted long-term cost savings and pension risk reduction may turn out to be underwhelming, if not elusive.

Larry Summers Dumps on Jackson Hole Avoidance of Negative Interest Rates

Former Treasury secretary thinks less-than-zero rates do little good and much harm.

CalSTRS Seeks to Join Lawsuit to Reform Facebook Governance

Pension fund says litigation will allow it to ‘protect Facebook’s profitability.’

California Gov. Puts Lendistry CIO on CalPERS Board

Stacie Olivares-Castain’s background is on impact investments, blockchain, and advisory services.

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