News

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.

Despite Pessimistic Outlook, CIC Seeks European Investment

Lou Jiwei, head of China’s $300 billion sovereign wealth fund, has said that even though global economic growth will likely slow next year with Europe being “most pessimistic,” the fund will continue to seek investment in some parts of the continent.