Single family rental backed bond deals still attractive
Fewer homes sat vacant and rents increased 3.4%
Newsmakers
S&P 1500 Pension Funded Status Remained Level in January
At month’s end, the
estimated aggregate deficit decreased to $400 billion from $408 billion as of
the end of December 2016.
CalSTRS Lowers Return Expectations and Revises Actuarial Expectations
The first reduction will be to 7.25%, followed by 7% in 2018.
CIO of Connecticut Retirement Plans & Trust Funds Resigns
Laurie Martin, deputy CIO of the $29.1 billion CRPTF, has been named interim CIO.
Soros Chooses Fitzpatrick from UBS as New CIO
Fitzpatrick will be firm’s 7th CIO since April, 2000.
Iron Workers Multiemployer Plan Approves Benefit Cuts
The insolvent $85 million pension fund is the first multiemployer plan to reduce benefits for current retirees.
NYC Pension Names Two Deputy CIOs
The New York City Bureau of Asset Management promoted Alex Doñé and Michael Haddad to the deputy roles.
Harvard Endowment to Cut Staff by Half, Outsource Investments
CEO Narv Narvekar has begun his overhaul of the $35.7 billion endowment.
GMO Appoints New CEO from QMA
Scott Hayward will take the helm of the value-investing firm come February 13.
Abu Dhabi Creates $125B SWF
Mubadala Development Company and International Petroleum Investment Company will join forces as Mubadala Investment Company.
New Mexico SWF Loses Private Equity Head
Portfolio strategist David Lee has been named acting director following the retirement of Greg Kulka.
Scaramucci Sells SkyBridge to Join Trump Administration
The hedge fund-of-funds’ investment team will remain intact, while the annual SALT conference will be spun out.
New York Life Selects New CIO
Tony Malloy has succeeded John Kim who was elected as the insurer’s president last year.
Researchers Find Link Between Investor Moods and Stock Performance
Securities that outperformed in positive mood periods are not likely to do well in negative mood seasons, according to research.
The Case for (Some) Hedge Funds
Only a small percentage of the world’s 11,000 hedge funds merit institutional capital, says Cambridge Associates—but the few good ones still bring “real value.”