Newsmakers
Chicago Pension President Decries Board’s Culture of Racism, Sexism
Jeffery Blackwell says he has ‘been on the receiving end of sabotage, intimidation, and racist comments’ from colleagues.
News Archive: Oct - 2020
Asset Allocation
Abu Dhabi Pension Fund and ADQ to Invest $2.1 Billion in Gas Pipelines
The state investors have taken a 20% stake in the energy firm.
Manager Selection
Software Firm CEO Indicted in $2 Billion Tax Evasion Scheme
Robert Brockman allegedly used a web of offshore entities to hide private equity income from the IRS.
Alternatives
OECD Report Outlines Challenges Facing ESG Investing
Study finds ‘little evidence’ of consistent ESG over-performance in recent years.
Asset Management Culture
Former FEG Chief Executive Scott Harsh Takes Consulting Job at NEPC
He’s coming out of retirement to help the firm expand its presence in the Southeast and Midwest.
Asset Allocation
Norway Pension Giant Rebounds in Q3 From Heavy First-Half Losses
The $1.15 trillion fund returns 4.3% during the quarter after losing $21 billion in the first half.
Asset Management Culture
Australia’s IFM Investors Targets Net Zero Goal by 2050
The $114.6 billion fund joins a growing list of pensions and endowments aligning with the Paris Agreement target.
Corporate Moves
Exclusive Interview: Ted Aronson Will Shutter His Value-Oriented Firm
AJO Partners is closing after nearly 40 years of investing, as its style suffers. Founder's team wants to launch a successor, but he will be on the sidelines.
Market Moves
From Here, Recovery Will be ‘Tougher,’ But Good Investments Persist
So say two savants from Principal Financial, at CIO’s Summit.
IMF Upgrades Global Growth Forecast But Still Sees Deep Recession
Organization warns pandemic will reverse progress made in reducing global poverty and will increase inequality.
Regulation
Ex-Trader Gets More Than 5 Years in Prison for Ponzi Scheme
Paul Rinfret pleaded guilty to defrauding investors of more than $19 million
Market Moves
3Q Earnings Could Be Less Bad Than Expected
Corporate profits should lose just (just?) 17%, UBS says, better than previous forecasts.
Corporate Moves
New York Times Makes $235 Million Pension Risk Transfer to MassMutual
About 1,850 affected retirees will continue to receive payments from the life insurer.
Pensions
Pennsylvania PSERS Returns 1.13% in 2020
Net position of teachers’ fund drops by $105 million as benefit payments exceed contributions.
Regulation
SEC, SDNY Charge Seismic Data Firm in $100 Million Accounting Fraud
Former SAExploration CEO faces up to 65 years in prison in connection with alleged scheme.