Joining Other States and Cities, Detroit Feels the Placement Agent Scandal
Two Motor City pension funds have seen large write-downs on bad investments, many of which are tied to recommendations from placement agents and an investment consultant.
News
Japan’s National Pension, the World’s Largest, Faces Reform Pressure
The US$1.4 trillion Government Pension Investment Fund has come under governance and investment strategy reform pressure from the OECD.
Is Private Equity Back?
A reported $15 billion fund raised by New York-based
Blackstone Group may signal the resurgence of a much-maligned investment
strategy.
Despite Recent Raids, Hedge Funds May Escape Fed Supervision
According to an anonymous source familiar with the Federal
Reserve’s thinking, hedge funds, beset with recent worries, are likely to
escape the key “systemically important” designation that would be accompanied
by rigorous Fed oversight.
Photo Gallery: aiCIO Industry Innovation Awards
On December 2, 2010, aiCIO hosted asset owners and asset
managers from across the globe for our inaugural Industry Innovation Awards.
See who was in attendance – and who won awards – via our photo gallery.
With New Evidence via WikiLeaks, RBS Awaits Subprime Lawsuit
Following the release of diplomatic cables quoting the current RBS Chairman claiming that former directors may have breached their fiduciary duty, a potential lawsuit, and embarrassment.
The Social Network/Accidental Billionaires: The Story & Myth of Facebook, Reviewed by Editor-in-Chief Kip McDaniel
[Disclaimer: I must admit that I am entirely biased with regards to this review. The now-famous Winklevoss twins and I were classmates at university and rowed on the same crew team for four years, which is important because it was during this time that they became entwined with – or invented, depending on who is to be believed –Facebook. I consider them good friends. Thus, I naturally lean towards one side of the argument more than another.]
The Quants, Reviewed by Editor-at-Large Joe Flood
Scott Patterson's book serves as something of a corrective to the prevailing narrative on Wall Street over the past few decades—that raw cognitive abilities and ever more complex mathematical models will smooth out risk and bring us the Great Moderation.
Nomad: From Islam to America, Reviewed by Senior Editor Paula Vasan
Ayaan Hirsi Ali's most recent book, "“Nomad: From Islam to America,” is a challenging, thought-provoking, and personal account of her rejection of Islam and the cooperative response to the religion that she believes is needed from the West.
Cuomo Reaches Deals With Two Funds in Pension Fund Probe
Odyssey Investment Partners LLC and HFV Management LP have reached agreements with New York Attorney General Andrew Cuomo that resolve probes of their involvement with pay-to-play at the state pension fund.
CalPERS Approves New Asset Allocation to Guard Against Risk, Rising Inflation
Following a nearly year-long review, the biggest US public pension has OK'ed a new asset allocation to position the fund for better risk-adjusted performance.
Norway's SWF Accused of Multibillion Dollar Investments Supporting Abuse, Fueling Military Regime
A new report by EarthRights International (ERI) has shown how the Norwegian Government Pension Fund Global has $4.7 billion invested in 15 oil and gas companies from eight countries operating in Myanmar, putting Norway in violation of its own Ethical Guidelines for responsible investment.
Milliman Says Corporate Pensions Suffer Funding Drop in November
In the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation's largest defined benefit pensions, the global consulting and actuarial firm showed these plans experienced a $22 billion decrease in pension funded status for the month of November.
Looking to Avoid Scandal, CalPERS Hears Post-Employment Recommendations
A legal firm hired to scrutinize the CalPERS’ staffing and conflict-of-interest issues has recommended barring employees from leaving for asset management firms with ties to the pension giant.
With Securities Lending in the Public Spotlight, Congress Gets Involved
While lawsuits over allegedly imprudent cash-collateral reinvestment programs continue to work their way through the courts, a Senate subcommittee has reportedly started an investigation into securities lending providers.