PIMCo Took Large Lehman Loss, Gross Shrugs
The Wall Street Journal has reported that Pacific Investment Management Co. lost $3.4 billion on its investment in Lehman Brothers but PIMCo head Bill Gross is unconcerned.
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Study: Hedge Funds Reach New Record in EM Investments in Q1
Assets managed by hedge funds betting on emerging markets rose to a record at more than $121 billion in the first quarter of 2011.
Goldman May Challenge Senate Report
Goldman Sachs is considering releasing documents about its mortgage bets that show that the Senate subcommittee's analysis, which has prompted an investigation of the securities firm, is inaccurate and incomplete.
Bulk of UK Pension Schemes Structurally Underhedged
New research conducted in the United Kingdom has revealed that the majority of pension schemes in the UK are structurally underhedged.
California Pension Sues Wilshire Associates
The $2.7 billion Kern County Employees' Retirement Association (KCERA) of California has filed a lawsuit against Wilshire Associates for loss of about $4 million.
Mayor Bloomberg Calls Liu Report on NYC Pensions 'Deeply Flawed'
A study commissioned by Comptroller John C. Liu predicts that New York City’s pension costs will peak in 2016 before they begin a gradual, steady decline, yet Mayor Mike Bloomberg sees major flaws in the report.
South Korean Pension to Raise Allocation to Stocks, Slash Fixed-Income
The National Pension Service (NPS), the world's fourth-largest pension fund with around $314 billion of assets, has revealed plans to increase its allocation to stocks while cutting exposure to bonds, seeking higher returns for its aging society.
PIMCO's Gross: 'Buy Cheap Bonds With Safe Spread'
In a PIMCO paper, Bill Gross is urging investors to play the safe end of the credit space by shunning duration risk.
Survey: Insurance Assets Outsourced to US Investment Managers Hit Record High
Insurance company assets managed by third-party US investment firms rose to a record $1.75 trillion at the end of 2010, with BlackRock and Deutsche leading the rankings.
DiNapoli Aims to Turn Placement Agent Ban Into Law
New York State Comptroller Thomas P. DiNapoli has proposed legislation to codify his ban on the involvement of placement agents, paid intermediaries and registered lobbyists in investments with the Common Retirement Fund (CRF).
Citigroup Shuts Down Its $400 Million Proprietary Hedge Fund
Citigroup has reportedly shuttered its $400 million Quantitative Strategies hedge fund, which uses the bank's own cash to bet on stocks, according to Bloomberg News.
Cali Treasurer Urges Transparent Election Spending by CalPERS, CalSTRS
California Treasurer Bill Lockyer has sent letters to the state’s public pension funds to develop policies for full disclosure of corporate political spending.
Australian ETF Industry Should Devote Attention to Institutions, Russell Says
Russell Investments has asserted that the exchange-traded fund (ETF) industry in Australia should focus its attention on institutional investors.
Split Between US and UK Venture Capital Funds Decreases
A new report by the National Endowment for Science, Technology and the Arts (NESTA) has found that the gap between US and UK venture capital funds has narrowed over the last decade.
Aon Hewitt Says Changes to UK Accounting Standards Could Massively Increase Shortfalls
Consultancy Aon Hewitt cautions that while the pensions deficit for the UK’s largest companies remained stable in May, major changes to accounting standards could increase shortfalls by £10 billion.