Pensions
Pennsylvania SERS Loses 11.69% in Q1
Tumbling equity markets helped weigh down retirement system’s returns.
News Archive: Jun - 2020
Asset Management Culture
MassMutual Reportedly Exploring $2 Billion Sale of Retirement Services
The life insurance company apparently no longer considers the DC plans integral to its business.
Market Moves
Hey, Washington, Buy Gold to Support Dollar, Guggenheim CIO Says
Scott Minerd calls on Fed to increase its holdings of the metal—which, unlike the dollar, is rising in value.
Asset Management Culture
Harvard Says It’s Not Planning Layoffs, But Offers Early Retirement Packages
Other cost-saving proposals at endowment champ: voluntarily reduce vacation time or work hours.
Risk
Florida Pension Sues Grand Canyon Education
Class action lawsuit alleges company artificially inflated stock price.
Market Moves
Druckenmiller Owned 5 Hot Stocks, but Only Gained 3% in the Rally? Huh?
Half his portfolio was in the likes of high-flying Amazon, but he came nowhere near the S&P 500’s 40% March-June rebound. Was caution-minded hedging to blame?
Alternatives
Calvert Will Score Companies on ESG to Add to Its Funds
To make the grade for its separate accounts, companies must be in the top third for at least one sustainability metric.
Regulation
UK Regulator Targets Defined Benefit Transfer Weaknesses
FCA bans contingent charging, finds British Steel pensioners received worse advice than most.
Asset Allocation
Brunel Hits Carbon Intensity Target, Varma’s Real Estate to Be Carbon Free by 2030
European funds with a combined $87.2 billion in assets look to reduce their carbon footprints.
Newsmakers
Austin Takes Steps to Save Local Pensions
The city’s Audit and Finance Committee enables new legislative allowances to save its police and employees’ retirement systems.
Alternatives
ESG ETF Investing ‘Should At Least Double’ This Year, Says Industry Savant
Investor interest has jumped amid challenges in the coronavirus crisis and George Floyd protests.
Corporate Moves
Presbyterian Church, Illinois Police Pensions Name New Leaders
Donald Walker tapped as CIO of church pension while Richard White will be interim head of new police fund.
Regulation
Convicted Officials Shouldn’t Get Public Pensions, Say North Carolina Lawmakers
Bill before legislature is sparked by anger over a county employee who won government retirement benefits after embezzling nearly $1 million.
Alternatives
PE-Related Bankruptcy Filings Soared in May
Too much debt and the virus economic slide harmed companies such as Hertz and J. Crew.
Risk
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.