Regulation
IBT Local 863 Receives $334 Million Grant From PBGC
The transportation industry pension was expected to become insolvent next year.
News
Research
CFA Institute Launches Research and Policy Center
The center will seek to provide new insights into the future of the investment industry.
Asset Allocation
Phoenix Pension Fund Returns 5.4% in Fiscal 2023
The City of Phoenix Employees' Retirement System’s asset value grew to nearly $3.4 billion as of the end of June.
Newsmakers
Australia’s Cbus Unveils New Leadership Team
The construction and building industry superannuation fund announced changes to its executive leadership structure.
Corporate Moves
NTAM Appoints Anwiti Bahuguna Chief of Asset Allocation
The economist was a key player at Columbia Threadneedle.
Regulation
House Republicans Propose 4 New Anti-ESG Bills
The Education and Workforce Committee adds to prior Republican pushback against ESG investing in retirement plans.
Regulation
Republicans Call for Acting Secretary Su to Step Down Ahead of New Fiduciary Proposal
The OMB is expected to receive in the coming days a DOL proposal that may face challenges to more than just its substance.
Illinois Launches New Type of Infrastructure, Real Estate Fund
The $1.5 billion First Fund will focus on impact investing in funds that officials hope will ultimately benefit the state’s infrastructure and economy.
Corporate Moves
US Bancorp Names Marc Ammaturo to Key Institutional OCIO Post
The finance veteran will helm distribution efforts in the firm’s expansion bid.
Asset Allocation
BAE Systems Outsources Management of 2 UK Pension Funds to Goldman Sachs
At 23 billion pounds, the OCIO mandate is the largest in UK history, according to the asset manager.
Market Moves
Why September, Usually the Lousiest Month, May Portend a Good Finish for 2023
When double-digit market growth precedes the 9th month, good things tend to follow for investors, according to LPL and BofA.
Risk
Michigan Pension Loses Lawsuit Against Unilever Over Ben & Jerry’s Israel Boycott
A federal judge dismissed a case that alleged Unilever misled investors by concealing a board resolution.
Corporate Moves
New CIOs Join Mercer, Principal
Mercer names a leader for its US outsourced CIO practice, and Principal Asset Management appoints a CIO and global head of equities.
Risk
Australia Agrees to Disclose Sovereign Bonds’ Climate Risks
Investors can comment on the settlement until the court approval hearing, scheduled for October 11.
Regulation
How Investment Advisory Firms Can Follow SEC Marketing Rule
The SEC concluded its first enforcement action under the new marketing rule last week.