Pensions
OMERS Reports First Annual Loss Since Financial Crisis
Canadian pension attributes 2.7% loss to the effects of pandemic on real estate, transportation, entertainment.
News
Asset Management Culture
CPPIB Chief Mark Machin Exits Amid Vaccine Uproar
The CEO of Canada’s largest pension fund traveled to the Middle East to get a shot. The plan’s credit head, John Graham, replaces him.
Market Moves
Post-COVID Stock Picks: Morgan Stanley Highlights Its Recovery Plays
McDonald’s, Exxon, and Lamar Advertising are on their winners’ list.
Asset Management Culture
New York City Comptroller: Ax Rule Forcing Private Equity to Pay Legal Bills
Mandate now forces PE operators to cover their own litigation tabs in disputes, instead of passing along the costs to NYC pension fund investors.
Asset Allocation
Canadian Pension to Invest C$5 Billion in Green, Social Bonds by 2025
British Columbia Investment Management also aims to cut carbon exposure of public equities by 30%.
Newsmakers
Britt Harris: Millennials Are Defined by Enduring Tough Economic Times
Gen Y folks are five years behind Baby Boomers financially at a comparable age, renowned UTIMCO chief laments.
SEC to Strengthen Climate Disclosure Requirements
The securities regulator is reviewing how the capital markets are currently managing environmental risk.
Pensions
NYC Pension Funds Rebound After Missing Fiscal 2020 Target
The city’s five pension systems have returned an estimated 18% in the first seven months of fiscal 2021.
Pensions
CalSTRS Aims for New $2 Billion Sustainable Portfolio
Pension plan officials believe they can build a new private markets allocation without sacrificing investment targets.
Market Moves
Expect a Market Correction, Sam Stovall Warns
A bunch of indicators like high sector P/Es and king-sized margin debt suggest one is on the way, stock savant says.
Alternatives
Wisconsin Treasurer Recommends Creating State-Run Retirement Plan
Auto-IRA program WisconsinSaves would provide all workers access to a retirement benefit.
FBI Arrests VC Firm Founder Over Alleged Investment Fraud
Derek Jones has been charged with wire fraud and identity theft in an allegedly multimillion dollar scam.
Newsmakers
State Employee Retirements at CalPERS Jump 15% in 2020
The pension system says the spike was ‘predicted’ and figured into planning for the $389 billion fund.
Regulation
PBGC Names Nicholas Novak Permanent Inspector General
He had been the agency’s acting inspector general since April.
Pensions
New Pension Transparency Gauge Finds Serious Improvement Is Needed
The Global Pension Transparency Benchmark ranked 15 countries on public disclosure transparency.