Risk
Investors’ Interest Rate Expectations Unrealistic, per NEPC
After many years of low borrowing costs, too many people have the delusion that these will return, NEPC warns.
News
Regulation
Aon Agrees to $1.5M Settlement With SEC Over Pennsylvania Pension Data
The penalty is related to misleading statements the adviser made to the Pennsylvania Public School Employees’ Retirement System.
Newsmakers
Dimensional Fund Advisors Promotes Savina Rizova to New Co-CIO Role
Sharing the position with Co-CEO Gerard O’Reilly, Rizova will continue to be in charge of the firm's research department.
JP Morgan Settles SEC Charges It Violated Whistleblower Protection Rule
The banking giant’s subsidiary agreed to be censured and pay an $18 million penalty.
Market Moves
Market Cap Race: How Does Apple Stay in Contention With Microsoft?
The iPhone maker has flat revenue at best, while the software titan enjoys major top-line growth.
Manager Selection
PBGC Names 6 Firms to Smaller Asset Managers Program
The companies will manage some of the agency’s fixed-income assets.
Research
WTW Predicts Record Year in UK Bulk Annuity Transactions, Longevity Swaps in 2024
These types of transactions are rising, due to an increase in pension funding and the positive outlook on the U.K. insurance sector.
Risk
Yield Curve Will Right Itself, Finally, but Not Until Year-End, Experts Say
Next question: What happened to the inverted arc’s role as a recession portent?
Asset Allocation
Connecticut Commits $1.1B in Private Credit, Real Estate Investments
Treasurer Erick Russell looks to diversify the state pension funds’ private credit portfolio through two European funds.
Risk
Will Red Sea Attacks on Cargo Ships Spark Inflation?
Only to a minor degree, says LPL Financial—goods prices already are low, so there’s a cushion.
Corporate Moves
Crossmark CEO, President Mike Kern Steps Down; CIO Bob Doll Named Successor
Doll will take on three top roles at the faith-based investment firm.
Risk
US Insurers to Embrace Investment Risk, Seek Variety of Fixed, Private, Alternative Investments
American insurers are willing to embrace risk in order to combat perceived market volatility in 2024, according to Conning.
Risk
How Should ESG Backers Deal With Fossil Fuel Users?
A panel of sustainability supporters outlined strategies to get carbon emitters to change.
Newsmakers
Indefi Hires Daniel Roy as Senior Adviser
Roy was previously CEO of HSBC Private Bank and of Natexis Asset Management.
Asset Allocation
NY State Pension Continues to Dial Back Its Stock Exposure
The New York State Common Retirement Fund exited more than $4.4 billion worth of public equity investments during the first 11 months of 2023, moving more into private equity and emerging managers.