Manager Selection
How Investment Teams Waste Their Time
It would be better spent on due diligence, instead of meaningless scut work, say Backstop and Mercer.
News
Regulation
Old British Steel Pension Secures $2.6 Billion Buy-in; Buyout Expected in 2021
UK pension lifeboat PPF said the plan is better funded than expected.
Asset Allocation
Institutional Investors Press CEOs to Disclose Climate Lobbying Practices
Group says companies will be held accountable for not aligning with the goals of the Paris Agreement.
Market Moves
ETFs on the March: Huge Inflows in September Set Up 2020 for Near Record
They gathered $35.2 billion last month, which should make this year second only to 2017’s blowout.
Asset Management Culture
Harvard Endowment CEO Goes from ‘Not Pleased’ to ‘Proud’
Three years into his five-year transition plan, Narv Narvekar says the ‘signs are encouraging.’
Asset Allocation
Ontario Teachers’, PE Firm to Acquire Allworth Financial Stake
The $155.3 billion Canadian pension fund and Lightyear Capital bought the stake in the firm from Parthenon Capital.
Asset Management Culture
Yale’s Swensen to Asset Managers: Hire More Women and Minorities
The decision to track investment firms’ progress would have a ‘seismic’ shift in the industry.
Market Moves
How a Trump or Biden Victory Might Affect the Economy
S&P Global Ratings analyzes the candidates’ differences and ‘surprising similarities.’
Asset Allocation
Pennsylvania PSERS Freezes Apollo Global Investments over Epstein Ties
State teachers’ pension fund has more than $900 million invested with Apollo.
Research
Retiree Lift-Outs Boost Pension Risk Transfers to $4 Billion in Q3
Employers are pushing through transactions in the second half of the year after the pandemic forced delays.
Alternatives
President of Purported VC Firm Pleads Guilty to Securities, Wire Fraud
Marc Lawrence faces maximum of 60 years in prison for his role in Ponzi-like scheme.
Asset Management Culture
Loomis Sayles CIO to Retire in March
Jae Park, who will retire after 19 years at the firm, will be succeeded by David Waldman.
Pensions
Conservative Think Tank Calls for NYC Pension Reform
Manhattan Institute recommends moving to defined contribution plans and consolidating funds.
Research
UK DB Plans’ Funded Ratio Falls to 91.4% in September
Meanwhile, the aggregate deficit of UK defined benefit plans rose to £166.1 billion during the month.
Asset Management Culture
New Mexico Teachers’ Pension to Divest from Private Prisons
The $12.75 billion fund has been under pressure to sell stakes in CoreCivic and the GEO Group.