Regulation
SEC Adopts T+1 Settlement Cycle
In addition to shortening the settlement cycle, the rules will improve the processing of institutional trades, regulator says.
News
Newsmakers
CalPERS Equity Portfolio Edges Out S&P 500 Returns in Q4 2022
CalPERS’ equity portfolio returned 7.92% in the fourth quarter of 2022, eclipsing the S&P 500 performance by 84 basis points.
Pensions
New York Common Retirement Fund Cuts Public Equities in Favor of Alts
The $242 billion pension giant reported a robust 4.51% investment return in Q3 of its fiscal year.
Manager Selection
Corebridge Financial Names Prudential’s Longino CIO
The former head of Prudential’s global investment strategy will oversee the AIG spin-off’s investment portfolio.
Asset Allocation
Harvard Endowment Reports on Its Net-Zero Progress
The fund, pledging to hit the goal by 2050 for its investments, has at least gotten there in its own physical operations.
Asset Allocation
Kentucky Retirement System Trustees Say It Is Not Subject to State’s Anti-ESG Law
The board of the County Employees Retirement System informed Kentucky’s treasurer that the 2022 law conflicts with CERS’ fiduciary duties.
CFA Institute Relaunches Foundations Program
Certificate program is designed for non-investment professionals to gain understanding of the global investment industry.
Pensions
Corporate Pension Funding Posts Small Gain in January
Lower effective yields on 10- and 30-year Treasury bonds, and on corporate credit, decreased the discount rate, offsetting strong equity gains.
Pensions
Indiana Anti-ESG Bill Could Cost State Pensions $6.7 Billion Over 10 Years
Bill aimed at protecting pensions’ financial interest may instead box them out of lucrative private markets.
Pensions
CPPIB Returns 1.9% in Q3 of Fiscal 2023
The Canadian pension giant increased its asset value to more than $400 billion to close out the calendar year.
Asset Allocation
Why Apartment REITs Are Primed to Move Up
In the push for alts, the beaten-up multi-family segment is gaining popularity, says research shop Green Street.
Newsmakers
Oklahoma Taking Names as It Seeks to Weed Out ESG Investors
State Treasurer Todd Russ is making a list of companies that break the state’s anti-ESG law.
Research
Diverse Manager Net Flows Expected to Remain Positive in 2023
With less than 2% of global assets invested with women or people of color, many asset owners are seeking to be more intentional about allocating with diverse managers, says Cambridge Associates research.
Newsmakers
Michigan Retirement System Sues Generac Over Solar Power Defect
Class action alleges company executives failed to disclose faulty solar component.
Research
Bloated Inventories Turning Into Economic Hindrance, Pantheon Says
The pandemic buying surge prompted businesses to stock up way too much.