China OKs BlackRock, Temasek Joint Wealth Management Venture
The decision was approved by the country’s banking regulatory authority in the first half of the year.
News
FCA Authorizes Archax as First Digital Securities Exchange in UK
The firm already has 35 digital issuances in place.
Say What? Long-Time Bear Becomes Bullish on the Economy
Growing household savings and unspent stimulus money buoy David Rosenberg, former Merrill economist.
Local Government Pension Funded Ratios Hold Steady Amid COVID-19
But financial strains on governments could make it harder to pay required contributions.
Do Sweeter Benefits Deter the Unemployed from Job Seeking?
Nope, a Georgetown economist’s study concludes—and they let people get new work better suited to them.
Five Charged in Fraud, Money Laundering Related to Cryptocurrency Ponzi Ring
Scammers allegedly used investor funds to buy cars, jewelry, and luxury homes.
This Rally Will Last a Long Time, Invesco Predicts
The economy and the stock market should be able to overcome the virus, say the firm’s strategists.
New York Pension Plan Names Navyug Patel Deputy Investment Chief
He is taking the spot vacated by Anastasia Titarchuk, who now is the program’s CIO.
State Pensions Entered Pandemic in Worse Position than in 2008
Report finds ‘overly optimistic’ assumed returns are more than 2 percentage points higher than they should be.
Maryland State Pension Returns 3.6% in FY 2020
Fund beats its benchmark to raise its asset value to $54.8 billion.
The Market’s Reaction to a Delayed Vote Conclusion? Not Good, Says UBS
The 2000 ballot-count mess teaches that stocks will slump and volatility will rise. But there’s a bright side.
CalPERS Sells Apple Stock, Invests in Microchips, Pharmaceuticals, Cannabis
The iPhone maker has enjoyed a large rally, but an ongoing trade war with China and the possibility of increasing regulation after a November election have dampened investor enthusiasm.
Norway’s Sovereign Wealth Fund Loses $21 Billion in First Half
The Government Pension Fund Global lost 3.4%, underperforming a benchmark index, largely thanks to its roughly 70% allocation to equities.
Kentucky Retirement Systems Returns 1.2% for Fiscal 2020
State pension plans collectively beat their benchmarks, but fall far short of their peers.
California Opens Investigation into Former CalPERS CIO Meng
He could face penalties of $5,000 per violation if he is found to have breached ethics regulations.