Alternatives
CDPQ to Invest $1 Billion into Wind and Solar Firm Invenergy
The Quebec pension fund hopes the funding will cement the renewable firm’s industry-leading position in North America.
News
Asset Management Culture
Why Smith College Is Moving Its Endowment In-House
The $2 billion fund, now in the market for its first CIO, decided it’s big enough to shift asset management internally.
Alternatives
Hedge Funds Finally Nose Past the S&P 500
After too many years of drag-butt performance, they’ve taken advantage of a volatile 2020.
Pensions
Time Runs Out for Multiemployer Pension Reform in 2020
Senators Grassley and Alexander say it’s too late to include their plan in year-end legislation.
Pensions
GE Agrees to $1.7 Billion Buyout; BBC Pension Secures £3 Billion Longevity Swap
Athene will provide annuity benefits to approximately 70,000 GE retirees.
Asset Management Culture
Veteran Series: For Matt Clark, Investing Is a Matter of Principle
A secret of the South Dakota pension plan chief’s success: putting a premium on inculcating strong values among staff members.
Market Moves
December Should Be OK, Just Not Its Usual Top-Tier Self
Muted market gains this month, strategists say, are overshadowed by blow-out earlier months.
Research
Texas Sees Sharp Rise in Troubled Funds
State and local pension funds with ‘infinite’ amortization periods increased 50% from last year.
Asset Allocation
CPPIB, AustralianSuper, UniSuper Invest in US Toll Road
The pension heads in Canada and Australia believe the infrastructure assets will guard against inflation.
Regulation
DOL Finalizes Fiduciary Exemption Consistent with Best Interest Standard
Investment professionals can collect payment for a wider range of transactions, so long as they satisfy the reinstated ‘five-part test’ for fiduciaries.
Market Moves
Maybe Joe Biden and Mitch McConnell Can Actually Work Together
Northern Trust’s Browne is optimistic that the new president is simpatico with the GOP Senate leader, who blocked many Obama initiatives.
Pensions
Public Pensions Fail to Rebound with Market Rally
Report says the worst of the COVID-19 recession has ‘yet to be fully felt by state governments and public retirement systems.’
Risk
Former Nanotech Firm CEO Charged with Fraud over Fictitious Cancer Detector
James Barbera allegedly told investors that his firm had a NASA-developed breathalyzer that could detect cancer and narcotics.
Pensions
Nest to Reduce Carbon in its Growing Emerging Market Strategy
The UK-based pension fund will drill down on renewable energy in the strategy, which will roughly double next year.
Newsmakers
Madoff Victims’ Recovery Tops 80% of Losses
Latest distribution of more than $488 million to Bernie Madoff victims hailed as ‘historic result.’