Overstated Shelter Costs Pump Up Reported Inflation, Says Sage
The government blamed the recent upsurge on rising housing costs, but that’s hooey, Barry Ritholtz charges.
News
US Corporate Pension Plans Ended 2023 at Record Funding Levels
A December stock rally outpaced the bond sell-off, improving funding in most pension measures.
UK’s PPF Appoints Michelle Ostermann as CEO
Ostermann will move from PSP Investments in Canada in April to succeed Oliver Morley, who moved to MaPS.
Why Battered Biotech May Be Turning Around
This cyclical sector has suffered, post-pandemic, but signs of a recovery are appearing.
Institutional Investors Will Focus on Fixed Income in Search of Alpha, per Aeon Investments
Of surveyed institutional investors, 94% reported they will seek to increase holdings in the asset class.
Anti-ESG Politics Affects Names More Than Strategies
While campaigns may have succeeded in shifting ESG naming conventions, their impact on actual investing strategies has been far more muted.
BofA Still Positive About 4Q 2023, as Other EPS Estimates Deflate
The pessimistic takes come after the third quarter’s rebound from the earnings recession.
BlackRock’s Purchase of GIP Deepens Its Alts Exposure
Global Infrastructure Partners adds $100 billion in assets to the finance giant.
CalPERS Expects to Hold 1st Interviews for Vacant CIO Position Next Week
The selection subcommittee will meet between January 17 and 19.
Goldman: US Is the Place to Invest in 2024
The nation’s stocks out-run everyone else’s, and should continue to, per the firm’s outlook.
London CIV Appoints Aoifinn Devitt as CIO
Moving from a CIO position in the U.S., Devitt’s appointment is effective January 15.
CalSTRS Board Approves Plan to Increase Portfolio Leverage up to 10%
The pension fund would be able to borrow as much as $30 billion to mitigate potential market downturns.
SEC Proposal to Ban Volume Discounts for Exchange Orders Receives Mixed Feedback
Larger exchanges came out in opposition, while smaller exchanges and consumer advocates supported the change.
CalSTRS CIO Chris Ailman to Retire
The long-tenured investment chief announced he will step down on June 30.
Blackstone Names New Co-CIOs
The promotions of Lionel Assant and Ken Caplan come amid several new asset management appointments throughout the industry.