Newsmakers
Kosovo Launches Sovereign Wealth Fund
The strategic/development fund will likely be seeded with stakes in six major government-owned companies.
News Archive: May - 2023
Newsmakers
NYC Pension Funds Sued for Divesting $4 Billion in Fossil-Fuel Assets
The complaint alleges breach of fiduciary duty in ‘misguided and ineffectual gesture to address climate change.’
Regulation
PBGC Provides Supplemental Assistance to Teamsters Local 966
The plan previously received more than $50 million in December 2022.
Research
Kellogg Foundation Offers a How-To on DEI for Finance Employers
Pointing to low levels of diversity among money managers and private equity firms, it gives examples of successful programs that boost diversity.
Market Moves
NYC Pension Funds File Board Diversity Proposals at 4 Firms
The city’s comptroller calls for disclosure of board members’ race and gender at Capital One, Las Vegas Sands, NextEra Energy and Caesars.
Asset Allocation
Insurers Eye Riskier Investments, One-Third Make Major Changes
Impact investing and longer-duration bonds are on the buy list, says Nuveen.
Risk
Kraft Heinz Agrees to Settle Class Action Securities Lawsuit for $450 Million
Swedish pension fund AP7 was among the plaintiffs who alleged Kraft Heinz misled investors regarding a $15.4 billion goodwill charge.
Market Moves
How Stock Buybacks Hit Record $1.31 Trillion in 2022
Even though the stock market took a nasty fall, companies eagerly paid for their own shares.
Pensions
After Years of Planning, UK Finally Authorizes First CDC Pension Plan
The Royal Mail finally received authorization for a plan it proposed in 2018 after closing its defined benefit plan.
Market Moves
US Corporate Pension Funded Status Improves After Equity’s Strong April
Liabilities also increased in the month, and while watching Fed rates closely, more pension plans neared full funding.
Asset Allocation
Global Institutional Investors Increasingly ‘Shunning Coal’
Europe leads the way among institutional investors divesting from coal, according to a new report.
Regulation
House Republicans Seek to Block Funding for SEC Regulatory Agenda
House Financial Services Committee Chairman Patrick McHenry requested that five SEC rule proposals and planned hires not be funded in appropriations process.
Pensions
Green-Minded Church of England Opposes Shell Directors in Proxy Fight
The religious body’s pension plan accuses the oil giant of pulling back from its environmental pledges.
Asset Allocation
New York Common Commits More Than $600 Million in March Investments
The pension giant also signed deals with four firms to reduce greenhouse gas emissions.
Asset Allocation
Amnesty International Scolds University Endowments for Human Rights Indifference
The report gives failing grades to several major university investment offices due to a lack of ‘human rights due diligence.’