The oldest and richest college in the US has released its annual report saying that following the financial crisis that left endowments around the country struggling to run their campuses, it has boosted its holdings of cash, US Treasuries, and other easy-to-sell assets.
The $14.4 billion endowment of Princeton University is planning to terminate 50% of its private equity managers, reducing its investments in leveraged buyouts.
New Jersey State Investment Council is planning to boost its alternatives target to 38%, while the state's pension fund for teachers and government workers is negotiating reductions in fees and expenses for private investment managers.
The trade and algorithm blamed for sparking the Flash Crash in the report by the SEC and CFTC was not executed by “mutual fund complex” Waddell & Reed but their executing broker, Barclay's Capital. The report's contention that the algorithm was simplistic and did not take price changes into full account may also be untrue. aiCIO's Joe Flood reports.
Retirement Systems Administrator Héctor Mayol Kauffmann has urged a probe of former officials following an in-depth study by consulting firm Conway MacKenzie that showed the pension system’s status worsened markedly as a result of bad oversight.
Canada's pensions are looking to swoop in to purchase a 30% stake in Potash Corp. to maintain control of the fertilizer company in Canada while at the same time encouraging Chinese investment.
Two weeks ago, the Securities Exchange Commission and Commodity
Futures Trading Commission revealed the possible causes of the May 6th
Flash Crash. Since you can't stop traders from making bad trades, what's
to stop another Flash Crash from happening tomorrow? aiCIO's Joe Flood
reports.
Andy Banks, head of corporate governance at Legal & General
Investment Management (LGIM), says the UK's Stewardship Code has given
shareholders the essential ability to consult with each other when
issues arise at companies in which they invest.
The National Pension Service, the fourth-largest pension in the world, has partnered with US private equity firm Kohlberg Kravis Roberts & Co. to acquire oil giant Chevron’s 23.4% stake in Colonial Oil Pipeline Company.
Amid criticism of CalPERS' poor returns and conflict-of-interest questions, the biggest US public pension said it is severing its 21-year relationship with Pacific Corporate Group as it revamps its private-equity program.
