Happy Birthday, Credit Crunch! (and Where to Have Made Money Since it Started)
It is five years since the accepted start of the credit crunch began – but it has not been all doom and gloom.
News
Who's Deep Into Real Assets?
We have a list, courtesy of JP Morgan via S&P.
The High Price of Joining the ‘Sovereign Country Club’
Many new sovereign wealth funds are not well designed and are impinging on their home country’s economic development, a paper has argued.
Turning the Tables on 2-and-20
No longer are institutional investors willing to pay the generous fees private equity managers have traditional charged, according to a survey by financial data firm PEI.
Emails Fuel Accusations Over Treasury’s Role in Delphi Pension Termination
Internal emails from the Pension Benefit Guaranty Corporation have emerged that could pose tricky questions for the Treasury Department over its involvement in the decision to terminate Delphi Corp.’s non-union pension plan in 2009.
Another Unexpected Swipe at Pensions From Solvency II
Insurers may have been happier with Solvency II than pension funds, but someone has found a reason not to be so cheerful.
Investors Want Bricks and Mortar – But Only the Good Stuff
Property is a popular choice for institutional investors, but the flight to quality continues and only the best is now good enough.
CalPERS to Critics: Get Your Facts Straight
Again, the California Public Employees’ Retirement System has pushed back against media critics that have faulted the fund for its poor 2011 returns.
Wellington: Shopping, Not Sweatshops, to Drive China’s Economy
China is mid-transformation into a consumer economy, and all that shopping will drive global growth in the long term, says Wellington Management.
Don’t Bet the Farm on Emerging Markets (They Could Be in a Similar State to Us)
Emerging markets are getting along just fine – or they would be if the developed world would sort its fiscal self out.
Alternative Assets the Key to Solvency, Says Blackstone Head
With bond yields in the low-single digits and equity markets volatile, Blackstone's President and CEO Tony James argues that its time for plan sponsors to aggressively pursue alternative assets.
Moody’s Foresees Group Annuity Purchases by Five Major US Corporations
In the wake of General Motors’ $29 billion purchase of a group annuity from Prudential, Moody’s Investors Service has predicted that five other big players will follow suit.
Proposed Pension System Faces Fiscal and Political Hurdles
A proposal to create universal retirement accounts in the US could have huge effects on the investment consulting and asset management businesses—but the devil is in the details.
Wilshire: Corporate Plans Ride US Bonds to Three-Year Returns of 12.53%
Institutional plans’ returns tracked their fixed-income allocations in the short and medium term, Wilshire Associates says.
Desperate Times Fuel Investor Risk Appetite
Cheap credit may be good for some, but for those needing to benefit from lending their cash it could not come at a worse time.