Blackrock’s Doll: Buy Stocks; U.S. Economy Outruns; Health Care Wins
Predictions for 2010 and the upcoming decade from Bob Doll at Blackrock, the world’s biggest asset manager.
Newsmakers
PIMCO’s Gross Says Fed Exit May Debilitate Markets
The influential bond fund manager, warning of “carefree check writing,” said that with central bank support removed, markets may suffer.
Private Equity Expert to Run NYC’s Pension Funds
Larry Schloss has agreed to become the next chief investment officer for New York City.
Ontario Teachers’ Moves into Mortgage Insurance Business
AIG has sold its Canadian mortgage insurance unit to Ontario Teachers' Pension Plan.
The ai5000 Top Five Institutional Investment Stories of 2009
The Revelation of the Full Extent of American Endowment Problems Entering 2009, the world knew that trouble was afoot at America’s largest endowments. Reports were emerging from Yale, Princeton, Stanford, Harvard, and others as early as September 2008 that
Private Equity Titan Terminates Fund
(December 23, 2009) – Europe’s Candover has agreed to close its nearly $5 billion buyout fund, a fall from grace for this once mighty private equity house. The firm confirmed late last week that its five year investment window
PIMCO’s Gross Reduces Government Debt Holdings, Moves to Cash
(December 23, 2009) – Bill Gross’s Pacific investment Management Co. (PIMCO), a weathervane for many institutional investors, reportedly has raised its cash holdings to the highest levels since September 2008. According to a report from Bloomberg, PIMCO’s Total Return Fund
Dubai, Again, Gets Bailout from Abu Dhabi
Not for the first time in 2009, Abu Dhabi—the federal seat of government for the United Arab Emirates—has been forced to step in and provide an injection of funds for a debt-ridden Dubai.
Dubai World, under Duress, Plans To Sell Assets
Dubai World plans to sell assets for cash, but the government continues to maintain that it has no financial responsibility for the sovereign wealth arm that it created to fund the city’s growth.
UK Merger Market Hurt by DB Pensions
A CBI/Watson Wyatt study also shows that corporate profits are more often than not hurt by the pension costs associated with defined benefit systems.
With Conditions Improving, Pension Buyout Firm Paternoster Looks for Action
Having taken a deal hiatus, the British pension buyout firm looks to reenter a market apparently on the mend following near-silence in the first half of the year.
CalPERS Cuts Private Equity Allocations, Demands Fee Reduction from Apollo, Others
The California pension behemoth is giving less cash to private equity funds, and is demanding that current general partners reduce management fees.
Quebec’s Caisse, Struggling, Plans to Issue Pension Bonds
After a disastrous 2008, the fund—which has replaced both its CEO and CIO since April—will issue up to $8 billion in bonds.
As Leaders Gather, SWFs Warn of Protectionism
Funds from across the globe gathered in Singapore alongside world leaders to express their concerns over protectionism—and to promote the idea of sovereign wealth funds as long-term, stable investors.
Despite Minimal Execution, Interest in Longevity Swaps Grows
Despite few actual deals being completed, U.K. pension schemes are increasingly interested in insuring against retirees outliving actuarial predictions, a new study shows.