Pensions
Seeking a ‘Path Toward Stability’ for Health Care, TRS Switches Administrators
The change will save the troubled medical benefits programs $754 million over the next five years.
News
Market Moves
Goldman Warns Coronavirus Could Bring a Market Correction Soon
Earnings growth is threatened by the epidemic, which has shut down much of China’s economy, strategist says.
Regulation
Rhode Island Pension Alleges Zuckerberg Overpaid 2019 Settlement to Avoid Personal Consequences
State Treasury says Facebook overpaid Cambridge Analytica settlement by $2 billion to win extra concessions from the feds.
Risk
Analysis Says NC Pension’s Fiscal Health in Jeopardy
Report warns that pension’s return assumptions are ‘overly optimistic.’
Regulation
Hedge Fund Manager Gets Nearly 12 Years in Prison for Fraud
Nicholas Genovese pleads guilty to lying about credentials and hiding a criminal background.
Pensions
Canadian DB Plans Rebound in 2019, Return 14%
Strong comeback from 2018 losses provides second-highest return in 10 years.
Pensions
NYC Teamsters Pension Reapplies for Benefits Cuts
Local 807 Labor-Management Pension Fund participants could see average benefit reduction of 21%.
Asset Management Culture
Women, Minorities Manage Just 13% of Charitable Assets, Study Finds
That share of the pie gets even smaller—to 3%—when more stringent definitions of ‘diversity’ are applied.
Regulation
NJ Pension Fund Trustee Sentenced for Embezzling over $360K
Founder and trustee of a vending machine company’s pension sentenced to two and a half years in federal prison.
Pensions
Canada Pension Plan Investment Board Posted Lackluster 3.6% Return in Third Quarter
Pension giant increases its net asset value to $318 billion.
Pensions
UK Universities Launch Largest Strike in History over ‘Radical Changes’ to Pension Plan
University staff start 14 days of strikes at more than 70 campuses.
CIO NextGen: Nominations Open
It’s time for asset owners and managers to help spotlight the industry's best up-and-comers.
Asset Management Culture
At Ivy League Endowments, Performance Dragged Down by Managers’ Picks
Private equity had a good year, but individual selections of stocks and other assets hobbled overall showing, report says.
Market Moves
Value’s Latest Dive Shocks Cliff Asness
AQR co-founder had called for adding more low-priced stocks, figuring their bad times had ended. Oops.
Corporate Moves
Skjervem Resigns From Oregon State Treasury
The chief investment officer is moving to an investment management consulting firm in Northern California.