No End in Sight for Venture Capital Struggles
Due to high interest rates, among other things, VC investment in new companies and IPO exits are way down from previous years.
News
Texas Constitutional Amendment Creates Endowment Fund for Newer Universities
A separate proposition enabling a cost-of-living increase to pensions for retired teachers was also approved.
FINRA Proposes Allowing Projected Performance in Marketing to Institutional Investors
The regulating body breaks with its previous skepticism of projected performance, but only for qualified purchasers and institutional investors.
Kathleen Jacobs Named CIO of RWJBarnabas Health
After stepping down in September from overseeing NYU’s endowment, the investment chief’s appointment to run the $8 billion system is effective in January 2024.
Tech Stocks’ Multiples Too Rich to Keep Fueling S&P 500 Rise, Says Sage
Historically, when the sector’s P/Es are this high, its market performance flags over the next 12 months, per Jack Ablin.
CalPERS Pledges to Boost Low-Carbon Assets to $100B
The $462 billion pension giant will more than double those assets as it aims to halve the carbon-emissions intensity of its investments by 2030.
Texas Permanent School Fund Appoints Robert Borden new CEO
Borden was previously CIO of the South Carolina Investment Commission and the Louisiana State Employees’ Retirement System.
PBGC Reports Glowing Financial Health
The pension insurer is well in the green, but conditions can be volatile.
MainePERS Begins Search for Deputy CIO
The $18.6 billion system hired a search firm to fill the role left by Zack McGuire’s June departure.
Institutional Investors Seek Low-Risk Assets, More Diversified Portfolios
An MFS Investment Management survey reveals that investors are flocking to fixed income and international equities.
Pension Risk Transfers Poised for 2nd Strongest Year Ever
AT&T’s May transaction and other large PRTs push up the tally, Legal & General reports.
Congress Passes Continuing Resolution
The temporary budget would keep the government funded into next year.
Marco Pirondini Appointed CIO at Amundi US
The appointment to this role and as executive vice president is effective January 1.
AI Will Have Big Effect on US Economy by 2027, Goldman Says
The American artificial intelligence industry is far ahead of the rest of the world, it notes, and you don’t have to worry about Skynet from “The Terminator.”