Manager Selection
New Nest CIO Elizabeth Fernando Plans Steady-as-We-Go Strategy
Move into alts, doubts about emerging markets, and criticism of Shell highlight the pension program’s direction.
News
Regulation
Barr Introduces Another Anti-ESG Bill in House
Mirroring language from Trump-era rules, the Ensuring Sound Guidance Act would require that only pecuniary factors be considered by fiduciaries in investment decisions.
Asset Management Culture
Norges Bank Will Study How Psychological Safety Can Improve Performance
The $1.4 trillion pension fund manager’s two-year research project will also investigate how resilience and sport psychology can boost results.
Asset Management Culture
Tech’s Toughest Cuts Could Draw New Talent to Asset Management
Asset managers are eyeing thousands of workers laid off by the tech industry as asset management firms build out their own capabilities.
Manager Selection
Legislation Requiring Diversity Disclosures Introduced in House
The Improving Corporate Governance Through Diversity Act would require issuers to disclose information on diversity at the director and executive levels.
Manager Selection
Sweden’s AP7 Hires Head of Asset Management
Lena Fahlén will leave Handelsbanken after more than 20 years to join AP7 in September.
Asset Allocation
Get Ready for US Manufacturing Supercycle, BofA’s Quinlan Trumpets
Foreign investment is surging into American industrial construction, according to the strategist.
Pensions
Michigan State University Endowment Buys Majority Stake in Detroit Landmark
The university is paying $21 million for 79% of the 95-year-old Fisher Building.
Newsmakers
Fore: Wealthy Saudi Fund, Already Muscling Into Golf, Steps Up in Soccer, Too
Having bought a U.K. football club and lured major players, the kingdom fortifies its homegrown teams financially.
Newsmakers
Former Ohio Teachers Board Member Sues Pension, Governor
Wade Steen claims he was illegally removed from the board of Ohio’s State Teachers Retirement System.
Manager Selection
Cinctive Capital Management Hires Michael Haddad as Deputy CIO
Haddad was previously interim CIO overseeing the New York City Retirement Systems’ $248 billion portfolio.
Asset Allocation
CPPIB Acquires 12% Bunge Stake Through Viterra Merger
The British Columbia Investment Management Corp. will also own a minority stake in the combined entity.
Newsmakers
Ryanair Settles Lawsuit With Alabama Pension Fund
The airline agreed to pay $5 million to the Birmingham fire and police pension fund but denied any wrongdoing.
Risk
Are 2 More Rate Increases Realistic? Probably Not
Several strategists are not sold on the Fed’s two-hike scenario, while the futures market expects just one.
Regulation
Pensions, Asset Managers Broadly Support Tick-Size, Access Fee Updates
The SEC proposed reducing exchange access fees and pricing increments for tick-constrained symbols in December 2022.