Canadian DB Pensions, Pooled Funds Rebound Sharply in Q2
Equities rally helps spur strong quarterly gains.
Risk
Arkansas Teachers Pension Sues Allianz Global Investors over $774 Million Loss
Firm is accused of abandoning strategy intended to protect against market downturns during COVID-19 crash.
Private Investigator Tech Startup Charged in $18.5 Million Fraud
Funds allegedly were diverted by the CEO for private jet charters, vacations, a luxury car, jewelry, and mortgage payments.
Racial Injustice Will Have Greater Weight in ESG Scores, S&P Global Says
About 217 businesses in the S&P 500 have publicly supported the Black Lives Matter movement to show solidarity and protect their reputations. Question: How sincere are they?
Michigan Pensions Sue Bayer over $63 Billion Monsanto Acquisition
Chemical company allegedly misled investors about ‘significant liability risk’ from ‘thousands’ of lawsuits against Monsanto.
Pittsburgh Pension Settles Lawsuit with Molina Healthcare
Steamfitters Local 449 Pension Plan agreed to drop the case for $7.5 million.
COVID-19 Relief Packages Help Fuel Ultra-Low Interest Rates
EIOPA warns that persistent low rates pose a ‘systemic risk’ for insurers.
Investment Adviser CIO Charged with Running Ponzi-Like Scheme
David Hu could face up to 45 years in prison for allegedly selling $60 million in fake loans.
Mississippi Pension Sues Mylan over Alleged Scheme to Deceive FDA
President Rajiv Malik is accused of ordering workers to manipulate quality control data.
Liquidity Woes Have Abated, But Don’t Get Too Comfy, JPM Says
After the March freak-out, when even selling a Treasury was tough, a shaky equilibrium prevails.
Montana Pensions Face Risk of Fiscal Distress in Recession
Funded levels could tumble if pensions don’t meet 7.6% investment return target, Pew says.
Japanese Pension Fund Loses $77 Billion in Fiscal 2019
The world’s largest retirement system is the lowest it’s been valued in roughly three years.
UK Retirements Could Be Postponed Due to Pandemic
Research from Aviva finds that some may have to spend more of their life working because of COVID-19.
SEC Warns Private Equity Conflicts of Interest Can Harm Investors
Alert of higher fees charged comes as Department of Labor clears way for PE in 401(k)s.
Endowments Weather Pandemic Better Than in Great Recession
Larger endowments outperform smaller ones due to less US equity exposure.