Risk
State Street Accused of Self-Dealing With 401(k) Plan
Lawsuit alleges firm breached its fiduciary duties by providing underperforming proprietary funds.
News
Risk
Risky Business Leads to $1 Billion Trading Loss, Charges for Fund Execs
SEC alleges portfolio managers misled investors about risk management practices.
The Exxon Vote: Pension Supporters Stay Onboard to Advance Change
CalPERS, CalSTRS, and NY Common helped push through outside directors at the oil leviathan, rather than unload its shares.
Asset Allocation
CPPIB, Phoenix Mills to Develop Retail Center in India
The mall is set to attract a growing consumer base in the affluent Alipore, Kolkata, neighborhood.
Manager Selection
AIG CIO Douglas Dachille to Step Down
The insurance giant has tapped Deputy CIO Geoff Cornell to helm its $350 billion investment portfolio.
PE Firm Founder Pleads Guilty to $58 Million Manhattan Real Estate Fraud
Eric Malley induced more than 300 people to invest in purportedly debt-free luxury properties.
Alternatives
A Crypto Crackdown? Yardeni Sees One Coming
The economist joins numerous government leaders these days who want to regulate or ban the digital currency.
Alternatives
Payments Startup SpotOn Gets Funding from Mubadala, Others
The firm is the latest in a series of growth sector bets the sovereign wealth fund has been making.
Asset Management Culture
Arch Capital Names Christine Todd CIO
Current CIO W. Preston Hutchings will leave later this year after more than 15 years at the post.
Pensions
NY Bill Would Divest Teachers’ Pension from Fossil Fuels
A report says the state teachers’ fund has more than $300 million in coal investments.
Shiller: Today’s Housing Boom Will End, But Slowly
The market won’t collapse all at once, yet the dip still will be painful, economist says.
Pensions
Market Rebound Spurs Record 33.55% Return for NY State Pension Fund
Equities helped boost the investment portfolio’s asset value by more than $60 billion to $254.8 billion.
Asset Allocation
Lawsuit Accuses Caesars, Russell Investment of Gambling with 401(k) Plan
The plaintiffs claim switching from State Street has cost participants $100 million in losses.
Pensions
OMERS Takes 25% Stake in International Schools Partnership
The acquisition is part of the pension fund’s expansion into private equity opportunities across Europe.
Regulation
Bill Seeks to Provide Plan Sponsors with Legal Cover for ESG Investing
Legislators say employers are hesitant to provide ESG options in 401(k)s over fears of being sued.