Companies’ Towering Debt Might Not Bring Widespread Defaults
Junk bonds do better when interest rates are low, like now, Nataxis finds.
News
NYC Pension Funds Beats Target, Returns 7.24% in 2019
Higher return on actuarial asset value equates to $112 million in total savings
Amherst Names Letitia Johnson CIO, Moves Investment Office to Boston
Johnson joins $2.9 billion endowment from Cambridge Associates, but won’t have to relocate.
Despite State’s Hardline Stance, Tennessee Pension Holds Marijuana Stocks
Treasurer moves to sell after stock in IIP discovered in small-cap index investment.
Moody’s: Kentucky Pension Reform Is a Negative for State’s Credit Rating
Credit agency says the reform only pushes costs into the future. Gov. Bevin says he’s ‘not surprised.’
CDPQ Returns 8.3% in Five Years, Beats Benchmark
Six-month returns fall short due to weak real assets performance.
Passive Makes Active Aggressive
Index-tracking trend forces active managers to cut fees to compete.
Oil Prices Are in the Dumps, but Why?
The market thinks the trade war will ax demand, which is pretty good now.
British American Tobacco in £3.4 Billion Pension Buy-In Deal
Fund is fifth FTSE 100 pension plan to complete risk transfer transaction in 2019.
Energy Institute Blasts BlackRock for Fossil Fuel Losses Despite Renewable Energy Efforts
Report maintains BlackRock lost $90 billion over the past decade due to fossil fuel investments; firm says conclusions are ‘misplaced.’
US Steel Names Bryan Lewis to Newly Created CIO Role
Lewis joins firm just three days after officially stepping down as Penn SERS CIO.
Another Trump Tariff Hike Would Spark a Recession, Morgan Stanley Says
If the US lifts the levy to 25% on all Chinese imports, firm sees worldwide economic downturns.
UK’s FCA Proposes Ban on Contingent Pension Transfer Fees
Regulator says lucrative transfer incentives create conflict of interest for advisers.
US Defined Benefit Plans Rise in Q2, Recoup Losses from Q4 2018
The 100 largest US public DB plans saw a $50 billion rise in funding during the quarter.
Senate Holds Hearing on Digital Currencies, Blockchain
Crypto proponents argue current banking system is inefficient and exclusionary.