Endowments Weather Pandemic Better Than in Great Recession
Larger endowments outperform smaller ones due to less US equity exposure.
Risk
Pension Fund Sues Facebook Over Timing of Stock Buybacks
Lawsuit questions whether buybacks were designed to boost stock sales by Mark Zuckerberg and other insiders.
Worse Than You Think: We’re in a Depression, Says UCLA Economist
The virus has so disrupted the US economy that recovery is a long way off, David Shulman contends.
Black-Owned Asset Manager Sues NJ Pension Fund, BlackRock for Racial Bias
State officials purportedly admitted the agency had ‘an aversion’ to minority-owned firms, the lawsuit says.
Conducting Due Diligence During a Pandemic
Mercer-Backstop alliance allows asset allocators to kick the tires on investments remotely.
Supreme Court Reigns in SEC’s Disgorgement Powers
Questions arise: Should disgorgement fees exempt the marketing costs of fraudsters?
Pandemic Will Slice 7% from World’s Wealth in 2020, Says BCG
A painful $16 trillion could vanish from the planet’s coffers, only the second down year this century, Boston Consulting’s study estimates.
Toll Roads Face Long Road to Recovery: Bad News for Funds Eyeing Infrastructure
The typically stable asset class has been hit as traffic levels have dropped 40% to 85% globally, S&P analysts say.
Attack of the Zombies: Potential Deadbeats Are Almost 20% of Companies, Says DB
US businesses that lack the income to pay their huge debt service, kept alive by more borrowing, are on shaky ground, Deutsche Bank Securities’ Sløk warns.
Roller Coaster Markets Don’t Dampen Investor Optimism
Despite whipsaw market volatility, financial professionals expect only modest declines in 2020.
CalPERS Revises Fixed Income and Public Equity Investment Policies
The policies move away from return-oriented goals to being a source of liquidity and strong beta.
Unease Remains Around Incoming Chief at Norges Bank
The supervisory board at the sovereign wealth fund told the national parliament that further control measures are needed to prevent conflicts of interest.
Florida Pension Sues Grand Canyon Education
Class action lawsuit alleges company artificially inflated stock price.
San Francisco Pension Plan Reports Data Breach
SFERS is the latest to suffer the loss of personal information that puts some at higher risk of identity theft.
Low Funded Public Pensions Might Not Survive the Decade
Market downturn could be the final straw for struggling public pension plans.