Pensions
New York City Mulls Lowering Investment Return Targets to 6.8%
A reduction would help the pension system better match projected investment returns.
News
Newsmakers
News From Davos: US Vows to Throw Weight Behind Climate Change Fight
Special envoy John Kerry said ‘we wasted four years’ under the Trump administration.
Market Moves
What Are the Next Five Meme Stocks After GameStop?
Retail investors in popular subreddit r/wallstreetbets have proven they can drive up stocks for GameStop. Now, they’re on the hunt for other social media favorites.
Market Moves
News From Davos: Larry Fink Tries Rallying Fellow CEOs to Combat Climate Change
BlackRock chief sees ‘tectonic shift’ as enthusiasm mounts for sustainable investments.
Alternatives
Op-Ed: Key Takeaways from Davos on China and ESG in a Post-COVID-19 Era
What should we expect from China’s ESG development in 2021?
Asset Management Culture
Global Foreign Direct Investment Plummets 42% in 2020
Developed nations were hit the hardest, with FDI tumbling 69% from 2019.
Coronavirus - COVID-19
IMF Upgrades Global Economic Forecast for 2021
Amid ‘exceptional uncertainty,’ World Economic Outlook projects 2021 growth of 5.5% after a 3.5% contraction in 2020.
Asset Allocation
Leon Black: A Career-Making 1990 Call and a Career-Ending One in the 2010s
He owes Apollo’s boffo start to the killing he made on an insurer’s then-skanky high-yield bonds. Then came Epstein.
Market Moves
News From Davos: Goldman’s Solomon, ECB’s Lagarde Tout Government Stimulus
In Washington, there’s a fight over more relief, as the European Union just passed a huge aid measure.
Alternatives
BlackRock Looks to Add Bitcoin Futures to Two Funds
The world’s largest asset manager is also seeking a head of blockchain investments.
Asset Allocation
Two NYC Pension Funds Divesting $4 Billion from Oil Companies
The move from the largest funds under the $239.8 billion New York City Retirement Systems follows a commitment made in 2018.
Asset Management Culture
Breaking News from Davos: China’s Xi Calls for Multilateralism in Keynote Speech
Chinese leader says there is a need to balance COVID-19 responses with economic development.
Alternatives
Bitcoin Will Never Be Real Money, Says UBS, Because It’s Too Volatile
Cryptocurrency isn’t a stable source of value, so people can’t depend on it, the bank’s top economist charges.
Pensions
Ontario Teachers’ Joins Net-Zero Climate Pledge for 2050
The Canadian pension fund will establish defined portfolio targets in the coming months.
Pensions
Indiana Roofers Pension Applies to Treasury for Benefits Cuts
Trustees of Roofers Local No. 88 propose a 10% reduction in benefits across the board.