Florida Senate Passes Bill to Move Most State Workers to DC Plan
Opponents say the proposed legislation attempts to solve a problem that doesn’t exist.
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Illinois Governor Signs Chicago Firefighters’ Pension Bill into Law
Critics say it will more than double the city’s annual pension costs to $30 million.
Extortionist Pleads Guilty to Crypto Firm Shakedown
Michael Hlady, who claimed to be part of the FBI, CIA, and NSA, threatened to ‘destroy’ a startup.
MBS Wants Saudi Arabia Fund to Reach $2 Trillion in Assets
The crown prince’s ambitious plan for the Public Investment Fund would change the kingdom’s dependence on oil while creating the world’s largest pool of institutional money, but questions remain.
Look Out: Higher Volatility Is Gonna Hit US, UBS Says
Virus jitters, higher growth and inflation, and a record-setting market will amp up the fear gauge, the bank warns.
More Investors Are Allocating to Emerging Alternatives Managers
The lack of in-person meetings did not dampen interest in smaller firms, which are putting themselves out there through Zoom.
Funded Levels of Canadian DB Plans Climb to 20-Year High
Surging bond prices helped boost defined benefit plans’ funded ratios to 124%.
Electric Vehicle Stocks Will Short Out, Arnott Predicts
A lot of the EV makers will go bust, paralleling many once-hot smartphone and airline outfits, says his Research Affiliates.
The New Kentucky Investment Chief Just Got a 41% Pay Boost
Still, the salary remains at the low end for allocators at public pension funds.
University of Pennsylvania Targets Net-Zero by 2050
The $14.9 billion endowment becomes the latest institutional investor to target the goals of the Paris Agreement.
Tech Firm CEO Sentenced to 8 Years in Prison for Fraud
Daniel Boice pleaded guilty to defrauding 250 investors out of more than $18 million.
Dimon Slams Dem Plans to Remove Lid on State, Local Tax Write-Offs
The JPM chief says lifting the cap would only benefit the wealthy, with their huge property levies.
Ontario Teachers’ Pension Fund Misses Benchmark with 8.6% Return in 2020
But the C$221.2 billion plan ends 2020 fully funded for the eighth straight year.
Get Out of Consumer Discretionary Stocks, Morgan Stanley Urges
Their run is done, and staples are the better choice in the next market phase, says strategist Mike Smith.
Boston Family Advisors Names Laura Tuttle, Warren Gibbon Co-CIOs
Tuttle joins from SCS Financial, while Gibbon has been promoted from chief investment strategist.