News

Ontario Pension Abandons Nuclear Tech Buy

With Japan's nuclear disaster raising fears that the global market for nuclear reactors will not be as robust as previously expected, the Ontario Municipal Employees Retirement System has abandoned its purchase of Atomic Energy of Canada Limited (AECL).

CIC Chairman Seeks Emerging Markets

The chairman of China's $300 billion sovereign wealth fund has said that the CIC will target emerging economies, following his remarks that recovery in emerging markets will repair the global economy.

Study: UK Pensions Slash Equities

British pension schemes are slashing their weightings in UK equities as part of a switch to fixed-income and international strategies, according to research by BNY Mellon.

Detroit Pension Sue Over Michigan Financial Manager Law

The $2.4 billion Detroit General Retirement System, the $3.4 billion Detroit Police and Fire Retirement System, and four individuals, including the chairs of both boards, have sued Michigan Gov. Rick Snyder over emergency powers.

Preqin Blames Madoff for Hedge Fund-of-Fund Downfall

As the overall hedge fund-of-funds industry has dropped from $1.25 trillion in 2008 to $910 billion as of Q2 2011, Preqin blames the changes in the industry on Bernie Madoff, saying investor caution has heightened following his multi-billion Ponzi scheme.