NYC Pension Names Two Deputy CIOs
The New York City Bureau of Asset Management promoted Alex Doñé and Michael Haddad to the deputy roles.
News
Harvard Endowment to Cut Staff by Half, Outsource Investments
CEO Narv Narvekar has begun his overhaul of the $35.7 billion endowment.
The Smart Beta Balancing Act
Maximizing factor-investing returns only over the long-term can put CIOs at risk of being fired over short-term performance, Research Affiliates argues.
Alcatel-Lucent Completes Second Buy-In
The telecommunications company has insured an additional $125 million of its UK pension plan.
GMO Appoints New CEO from QMA
Scott Hayward will take the helm of the value-investing firm come February 13.
Abu Dhabi Creates $125B SWF
Mubadala Development Company and International Petroleum Investment Company will join forces as Mubadala Investment Company.
New Mexico SWF Loses Private Equity Head
Portfolio strategist David Lee has been named acting director following the retirement of Greg Kulka.
Public Pension Return Assumptions Haven’t Budged: Survey
Average actuarial assumed rates of return remained stagnant at 7.5% last year despite two-fifths of pensions lowering expectations.
Scaramucci Sells SkyBridge to Join Trump Administration
The hedge fund-of-funds’ investment team will remain intact, while the annual SALT conference will be spun out.
New York Life Selects New CIO
Tony Malloy has succeeded John Kim who was elected as the insurer’s president last year.
Researchers Find Link Between Investor Moods and Stock Performance
Securities that outperformed in positive mood periods are not likely to do well in negative mood seasons, according to research.
Why Long-Term Investors Love Beta
Viewing assets over long time horizons makes what short-term investors classify as beta look more like alpha.
Investors Pull $100B From Hedge Funds in 2016
Last year was the third time on record that investors redeemed more capital than they allocated, eVestment reports.
Private Equity Fee Template ‘Builds Steam’
The ILPA says it has made “significant progress” in the promotion and adoption of a template designed to increase transparency around fees.
The Case for (Some) Hedge Funds
Only a small percentage of the world’s 11,000 hedge funds merit institutional capital, says Cambridge Associates—but the few good ones still bring “real value.”