New York AG Investigates St. Clare’s Pension Fund Fiasco
Nearly 1,100 retirees lost their pensions or had them reduced last year.
News
Crypto Hedge Fund AUM Doubles to $2 Billion in 2019
The median crypto hedge fund returned 30% last year, compared with a loss of 46% in 2018.
Pension Demands Put Local Governments in a Jam, Moody’s Says
With virus-driven costs mounting, cities’ and towns’ financial outlook shifts to negative from neutral, agency rules.
Veteran Fund Managers Launch EM Boutique Investment Firm
Aikya Investment Management will focus on sustainable investments.
San Diego County CIO Stephen Sexauer Takes Over as Interim CEO
The investment chief said he plans to return to his role once the search is over.
Coronavirus Cases Should Rise in May, Gottlieb Says
The former FDA commissioner, and current pension plan asset manager, sounded alarms in January about the pathogen.
California Pension Spiking Case Nears End in Court Showdown
Public sector workers want to strike down a provision that stops them from winning higher benefits in retirement.
Re-Opening the Economy Won’t Do Stocks Much Good, Says Yale Expert
Portent: Chinese consumers remain fearful about going out after lockdown lifted, ex-Morgan Stanley honcho Roach warns.
Bloomberg Fined $5 Million by SEC for Brokerage Practices
The company’s subsidiary, Bloomberg Tradebook, allegedly transferred low-commission client orders to unaffiliated broker dealers.
Public Pensions Could Suffer for Years from Pandemic Losses
Employers will have to increase contributions unless markets rebound sharply, says S&P.
Sam Zell: Nice Distressed Real Estate Bargains Are Ahead
The Grave Dancer says virus shock will scar Americans’ psyches, but should benefit bargain hunters like him.
Former PBGC Official Pleads Guilty to Bribery Conspiracy
Jeffrey Donahue could face 15 years in prison for conspiracy to bribe a public official.
Pandemic Blots One Year’s Worth of Gains from Canadian Plans
Corporate, public, and university funds lost a median 7.23% in the first quarter from falling equities, BNY Mellon says.
Alaska Permanent Fund Contemplates a New Dalio-Backed Gold Allocation
The new allocation would provide the portfolio with a new risk-mitigating asset class, citing the support of Bridgewater Associates’ Ray Dalio.
Why Not to Sell in May and Go Away
The summer season has been pretty good to stocks over the past eight years, LPL notes.