On Both Side of the Atlantic, Battle Lines Harden Over Financial Regulation
While the scope of financial regulation varies from Europe to America, electoral politics seem likely to shape eventual market changes after the Great Recession.
News
BNY Mellon Tops the List in 2010 R&M Global Custody Survey
Rated on a scale of 1 (worst) to 7 (best), banks providing custody services scored an average 5.74 in 2010, compared with 5.70 last year.
Citi to Expand Hedge Fund Advisory Team
The banking giant’s institutional hedge fund advisory team currently
consists of 30 people and plans a majority of its new recruitment in
Asia.
Mass. Treasurer Suspected of Pay-to-Play Donations
Timothy P. Cahill is criticized for accepting more than $100,000 in connection to an investment manager who has been allotted hundreds of millions of dollars in state funds to invest since Cahill became treasurer in 2003.
Yale Cuts Hedge Fund Portfolio to Up Private Equity
CIO David Swensen's investment philosophy of “diversification and
equity orientation” prevails.
SDCERA Backpedals, Seeks Competing Bids for Investment Outsourcing
The San Diego County
pension Board of Retirement– which two weeks ago was presented with a proposal
by the fund’s CEO to outsource its entire investment staff via a no-bid
contract – today approved a measure that would in fact open up the process to
competing firms.
Former Hevesi Adviser Denies Wrongdoing; Faces Up to 25 Years in Prison
The former chief political adviser to ex-New York state Comptroller
Alan Hevesi said the indictment against him should be dismissed.
Pension Suit Over Canadian Bank’s Subprime Holdings Dismissed
The judge
ruled that like many other financial institutions, the bank failed to
forecast the meltdown that led to record losses.
Investors to Add Billions to Hedge Funds
Hedge fund investment is expected to reach up to $222 billion,
marking the first time inflows are seen to exceed outward flows since
2007.
SDCERA to Meet on No-Bid Outsourcing of Investment Staff
In a Board meeting
scheduled for March 18, the San Diego County Employees’ Retirement Association
will vote on whether to proceed on or further discuss the outsourcing of it’s
investment staff to Lee Partridge’s Integrity Capital, as well as a shift in
asset allocation.
Lost Opportunity for UK Pension Funds
By failing to renegotiate fees they charge, fund managers are losing
the chance to save more than $151 million annually in fees.
CalPERS Board Removes Shareholder Proposal Limit
The largest US pension fund
voted to
lift the limit on the number of shareholder proposals its staff can
issue and announced plans to increase the accountability of
directors through a majority vote policy.
Abu Dhabi SWF Becomes Less Distant
The traditionally clandestine fund, which
has rarely revealed any details of its investment strategy or
investments, becomes more open.
Transcript: Michael Lewis in Full
ai5000's Joe Flood sits down with bestselling author Michael Lewis to discuss his new book “The Big Short: Inside the Doomsday Machine,” the shifts in Wall Street culture, and today's financial landscape.
EU Forges Ahead With New Hedge Fund Rules, Despite Objections From Britain, US, Canada
Treasury
Secretary Geithner claims the EU law, formed to regulate
alternative investment vehicles, would negatively impact US fund
managers and banks.