Harvard Forecasts Big COVID-19-Related Losses and Enters Cost-Saving Mode
University projects a $750 million revenue shortfall in FY21 in light of the economic fallout of the coronavirus.
Risk
Denver Retirees Ordered to Return $11 Million in Benefits
A local investigation found overpayments ranging from $3,000 to $3 million to be recouped.
Pandemic Relief Could Risk Spousal Retirement Security
Women at higher risk of being hurt by easing of retirement savings requirements.
Trump Considers Banning Chinese Stock in Federal Pension, Reports Say
The White House is reportedly reviewing its options against a planned investment into Chinese equities.
Foolish Hope Will Doom the Current Rally, Savant Says
Investors will see that things aren’t getting much better, and that will reverse stocks’ recent surge, warns James Bianco.
State Pension Funding Drop to Lowest Level in 30 Years, Wilshire Says
Public plans were 62.6% funded in the first quarter after the coronavirus wiped out 12.2 percentage points.
Wells Fargo Predicts 10-Year T-Note Will Rise Above 1%
Now at a 0.63% yield, the benchmark bond should move up due to better economic and virus news, says bank’s strategist.
University of Texas Endowment Oil Money In Jeopardy
Top official of university organization that manages mineral rights for the endowment calls for Texas oil production cuts.
Bad Breadth: 5 Giants’ Market Dominance Is a Grim Sign, Goldman Says
History shows that the lofty status of Microsoft and its tech peers could lead to a deep market rout, the firm warns.
COVID-19 Layoffs Can Mean PBGC Reporting Obligations
PBGC monitors workforce reductions, so plan sponsors must be vigilant.
New York Pension Fund to Supplement Federal Small Business Loans
The state hardest hit by the coronavirus is bolstering relief efforts.
Too Rich to Need It? Top Colleges Back Away from US Virus Money
Harvard, Penn, Yale act after Trump administration says subsidies should go to less wealthy institutions.
Washington State Board Makes Up To $1.9 Billion in Extra Private Market Commitments
New allocation adds to WSIB’s already outsized allocation to these assets, which has helped cushion it amid equity market turbulence.
Institutional Investors to Reduce Real Estate Investments in 2020
Pension funds, endowments, foundations plan to cut property commitments by 11%.
Rhode Island Lost 9.5% But Performed Better Than Benchmarks
The state treasurer attributed an allocation into Treasuries and quant strategies for offsetting losses.