In a study of alternative asset managers, RBC Dexia found that
a clear majority of hedge funds believed greater governance of
alternative investments could result in an increased allocation to the
sector.
Onyx Capital Advisors, a firm
that invests in small and medium enterprises in the Midwestern and
Southeastern US states, and its founder have been charged with fraud for
stealing millions of dollars from Detroit pension funds.
Ahead of Tuesday hearings on the 2008 collapse of the banking giant,
state records show Ohio pensions suffered hundreds of millions of
dollars in losses.
The country’s largest government pension fund, which owns 1.8 million
shares in the embattled investment bank, says the fund’s corporate
governance staff will examine Goldman practices and influence the makeup
of Goldman's board if needed.
Analysts say the U.S. Securities and Exchange
Commission’s civil fraud charges could force Goldman to pay hundreds of
millions in fines and restitution. The blow to the firm’s reputation
may be harder to salvage.
The government has accused Goldman Sachs of failing to disclose conflicts of interest in mortgage investments it sold as the housing market was waning.
