Market Moves
UBS: Where to Invest as the Dollar Keeps Weakening in 2021
Some asset classes stand to do very well, the bank finds, with no end in sight to the buck’s free-fall.
News
Pensions
PBGC Approves Merger to Aid Struggling Multiemployer Plan
The settlement is intended to help protect 50,000 Giant, Safeway employees and retirees in the Washington, D.C., area.
Asset Management Culture
The Rebound Play: Brazilian Asset Manager Vinci to Go Public in the US
The firm, whose current investors include LACERA and the Rhode Island pension plan, believes the economically stricken South American nation is prepared for a turnaround.
Alternatives
Bitcoin About to See an ‘Avalanche of Institutional Investors,’ Says Scaramucci
The former White House communications director’s hedge fund launched a Bitcoin fund.
Alternatives
CPPIB Loses $113 Million Days After Buying SolarWinds Stake, Following Hack
Canadian pension giant, authorities likely to look into whether firm had been aware of cybersecurity risks.
Regulation
Jewelry Wholesaler Charged with Defrauding Retired Police, Firefighters
Gregory Altieri, who pleaded guilty to running $200 million Ponzi scheme, faces up to 20 years in prison.
Asset Management Culture
CalPERS Not Ready to Pick CIO
Several finalists have been interviewed for the top spot, but an expected January decision has been delayed.
Market Moves
Oil Appears Ready to Break Out of Its Price Rut
Opportunity awaits for investors while crude is stuck in ‘virus alley,’ say strategists.
Risk
State Treasurers File Shareholder Action over Alleged Gilead Price Gouging
Pennsylvania, Rhode Island call for independent chair at biotech firm after it reportedly priced remdesivir at more than 500 times the cost.
Alternatives
CPPIB Invests $200 Million into Indonesia Logistics Joint Venture
Two partnerships with logistics real estate firm LOGOS will bring up to $1 billion of warehouses in the greater Jakarta area.
Financial Journal Comptroller Pleads Guilty in Embezzlement Scheme
Eric Whitehead, of Grant’s Interest Rate Observer, faces 20 years in prison for using company assets to pay for personal expenses.
Economic Recovery Backslides Due to COVID Resurgence
‘The economy goes as the virus transmission goes,’ says S&P Global Ratings.
Alternatives
CDPQ, Cathay Take 50% Stake in Taiwanese Wind Farm
The deal amounts to a $2.7 billion transaction.
Regulation
CEO Charged in $119 Million Fraud Targeting South Asian Americans
SEC alleges SiliconSage Builders CEO Sanjeev Acharya targeted community members in Ponzi scheme.
Asset Allocation
OMERS Completes $312 Million Sale of Detroit River Rail Tunnel to Canadian Pacific
The pension fund will sell an 83.5% stake in the transcontinental pathway.