Pensions
NYC Council Passes IRA Auto-Enrollment Bills
The legislation would establish a mandatory retirement savings program and a board to oversee it.
News
Market Moves
Will Biden Tax Hikes Torpedo Venture Funding?
Nope, says VC icon Patricof, although fellow startup capital ace Tim Draper disagrees.
Alternatives
CPPIB to Invest in French Real Estate Credit
The Canadian allocator has placed a $222.5 million bet on commercial real estate properties.
Asset Management Culture
Utah Endowment Considers Realignment Toward Sustainability
University’s Academic Senate approves recommendations to shift portfolio to ‘positive sustainability investments.’
Risk
FBI Arrests Alleged Operator of Longest-Running Bitcoin Laundering Service
Authorities say Roman Sterlingov ran Bitcoin Fog on the darknet, which laundered an estimated $336 million.
Asset Allocation
Court Dismisses ERISA Lawsuit Against Edison International ESOP
Appellate court rules the plaintiff failed to meet the standard set in a 2014 Fifth Third lawsuit.
Asset Allocation
Denmark’s ATP Loses $200 Million from Bond Exposure
The pension giant’s misstep came from increased sensitivity to interest rates.
Asset Allocation
Op-Ed: Where Buffett and Dalio Are Wrong on Bonds
Mark Holman, CEO and portfolio manager of TwentyFour Asset Management, argues that the two famed investors are ignoring compelling opportunities in the fixed income markets.
Market Moves
Surging Stocks Improve Pension Funding Levels, But De-Risking Isn’t at Risk
A hot equities market, plus some accounting help from interest rates, aided the plans.
Regulation
SECURE Act Could Help Provide Retirement Income in 401(k) Plans
Report says retirement income will become the standard in defined contribution plans.
Asset Management Culture
Union Demands CPPIB Ditch Brazil Water Privatization Involvement
The acquisition and privatization of a Brazil public water firm are socially harmful and economically risky moves, says CUPE.
Alternatives
Mubadala and Others Pledge Big Money for UK-Based AI Drug Discovery Firm
Exscientia has just closed a $225 million Series D funding round, enlisting giant institutional investors.
Newsmakers
How the Soros Connection Has Small Bard College Aiming for the $1 Billion Endowment Club
The famed financier has a special Holocaust-related bond with the school’s president. Result: Now there’s a shift from the old method that barely kept the junk-rated institution afloat.
Research
Biden’s First 100 Days Are the Third Best … in the Stock Market
With the Dow ahead by 9.9% over the period, he is bested only by FDR and Taft.
Market Moves
Why the Time May Be Ripe for a Return to Active Management
Investors will need help hitting even reduced target returns in the coming years, says Goldman Sachs report.