Tech Companies, Not Factories, Are Getting the Capital Spending Dollars Now
New reports shed light on the phenomenon.
Newsmakers
Wisconsin State Pension Fund Returns 16.89% in 2021
The fully funded state pension system surpassed its benchmark to increase its trust funds’ combined asset value to more than $147 billion.
NY Pension Calls on Firms to Report Abuse, Harassment, Discrimination
Tesla, Starbucks, and Activision Blizzard have been targeted by the $279.7 billion New York State Common Retirement Fund.
Cathie Wood Lashes Out at ETF Dedicated to Shorting Her
The disruption queen now has an arch-nemesis rooting for her failure.
New York Common Calls on Tesla to Disclose Spending on Discrimination Complaints
The pension made the move after a racial discrimination lawsuit led to a $130 million verdict in punitive damages.
Japanese Pension Giant Returns 2.81% in Q3 2021
The world’s largest pension fund earned over $47 billion for the quarter to raise its asset value to nearly $1.73 trillion.
Private Equity Drove CalPERS’ Strong Q4 2021 Returns
The pension fund reported 1.2% returns over its benchmark for calendar year 2021.
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Quincy Pension Loses $3.5 Million After Cyberattack
A growing number of pensions are becoming targets of cybercrime.
Wall Street Tonic: Russia Claims It Is Withdrawing Some Military Units
The prospect of de-escalation from the Ukraine border, as yet unproven, buoys stocks.
Teamsters Pension Applies for Bailout After $58 Million Legal Appeal Dismissed
A circuit court has denied the New York multiemployer pension’s attempt to recover withdrawal liabilities from the bankrupt firm’s new owner.
Risk Aversion Strategy Causes Colorado Pension to Lose Out on Millions
Lawmakers required the fund to keep cash in a low-interest bank account to avoid risk.
New York Common Returns 4.74% in Q3
This quarter’s returns were significantly better than the last one’s.
Rhode Island Pension Fund Hits Record but Misses Benchmark in 2021
Its investment portfolio value nears $10.8 billion after a 17.27% annualized return net of fees as the fund boosts its private equity allocation.
UK’s Biggest Pension Fund Facing Lawsuit, Potential Strikes Over Benefit Cuts
The plan is increasing contributions while cutting benefits despite significant investment returns last year.