Newsmakers
A Buybacks Tax Would Have Just Minor Effect, Some Strategists Say
The 1% levy in a Senate-passed bill shouldn’t deter the repurchase trend much, they think.
News
Research
Don’t Call It a Comeback: Plan Sponsors Could Thaw Frozen Defined Benefit Plans
Unfreezing pension plans may help with workforce recruitment and retention.
Asset Allocation
Japan’s GPIF Loses $28 Billion in First Quarter of Fiscal Year 2022
The $1.43 trillion pension giant posts back-to-back quarterly losses for the first time in six years.
Risk
A Fed Pivot? Not a Chance, Says the Futures Market
The expectation is wrong idea that the Federal Reserve will cease its tightening and lower rates, CME contracts suggest.
Asset Allocation
Teamsters’ Plan to Claim Most of Latest PBGC Aid
More than $800 million from Special Financial Assistance Program will help two pension funds covering more than 22,000 participants.
Newsmakers
19 GOP Attorneys General Slam BlackRock Over ESG Investments
‘Fiduciary duty is not lip service,’ says August 4 letter, which is addressed to CEO Larry Fink and seeks ‘clarification on actions that appear to have been motivated by interests other than maximizing financial return.’
Asset Allocation
Why Have Stocks and Bonds Been Correlated Lately?
In three decades, both asset classes went south at the same time in only nine quarters, and two of them occurred this year, says Panama’s Santiago.
Asset Allocation
CalSTRS Loses 1.3% in Fiscal Year 2022
Market slump causes $262 billion drop in U.S. public pensions’ funding levels in June.
Newsmakers
Don’t Miss Out: Nominate for the CIO Innovation Awards by August 28
Nominate the best asset owners, consultants and managers for this year’s awards.
Asset Allocation
NY State Pension Returns 9.5% in FY 2022, While NYC Pensions Lose 8.65%
New York State Common Retirement Fund benefits from having a fiscal year that ended before the second-quarter market slump.
Newsmakers
Governor Moves to Bar Florida SBA From ESG Investing
Although the state's funds are hardly a hotbed of climate activism, DeSantis joins other GOP pols in opposing ‘woke capital.’
Risk
WTW Index Shows Mostly Positive Second Quarter for Global Pension Funds
U.S. pension funds’ relatively high domestic equity allocations made the funds more vulnerable to the market downturn than other countries and regions.
Newsmakers
Finally, Some Good Crypto News: BlackRock Forges Pact With Coinbase
The exchange, suffering like the digital currency it trades, gains access to the asset management giant’s institutional clients.
Research
Get Ready for an L-Shaped Recession, Warns Credit Suisse
A deep recession and then little growth may be what’s needed to fight today’s high inflation, says strategist Pozsar.
Pensions
Justice Department Ends Investigation of Pennsylvania PSERS
A 2020 accounting error had prompted the investigation that lasted for more than a year.