New York Common Retirement Fund Invests Over $2.7 Billion in March
Pension giant commits nearly $1.2 billion in credit investments and $1 billion in private equity funds.
Newsmakers
Norway’s Sovereign Wealth Fund Loses $71 Billion in Q1
The fund’s investment portfolio declined 4.9% due to market volatility caused by “geopolitical turbulence.”
Black Investors Increase Saving and Investing, But Also Risk
Survey finds more saving and investing among Black Americans, but also historically low stock market participation.
Endowment Index Falls Over 6% in First Quarter
Private equity and emerging market investments weigh down the portfolio, offsetting gains by oil and gas and commodities.
Macron Wins French Election, Leaving Door Open for Pension Reform
Macron’s victory does not necessarily mean that the French public supports retirement age increases.
New York Pension Plans Launch Fight to Dislodge 2 Amazon Directors
Protesting working conditions at the e-commerce giant’s warehouses, the city and state funds urge no votes on reelecting board members.
Proposed Dutch Pension Reform Would Phase Out DB Plans
If passed, the law would come into effect at the start of 2023, with a transition deadline of 2027.
Slowdown Time: Corporate Insiders Dial Back Sales—and Buys
Activity in company stocks was high last year but ebbed in 2022’s first quarter, says Verity. Could be a bullish sign.
Net-Zero Pledges Aren’t as Green as You Think, Says New Study
Of the 25 asset managers studied that were members of the Net Zero Asset Manager Initiative, not a single one required companies in their portfolios to stop developing new projects with coal, gas, and oil.
Canadian, UK DB Plans Improve Despite Market Volatility and Inflation
Rising bond yields more than offset investment losses to reduce pension liabilities.
CalPERS to Increase External Management Budget by $145.6 Million
Most of the new fees will be allocated to private equity and real estate.
Older Workers Aren’t Part of the Great Resignation—They Got Fired
New research shows that many employees ages 55 to 74 who quit working were forced out.
Ackman SPAC Draws New Fire
Lawsuit says his vehicle, and others like it, should be under tighter federal regulation.
Wilshire Advisors Hit by Cyber Attack
Firm announces it was the target of a ransomware attack in early March.