Regulation
JPMorgan Chase to Pay Nearly $1 Billion to Settle Trade Manipulation Charges
Bank avoids criminal charges by agreeing to record $920.2 million CFTC fine and a $35 million SEC fine.
News
Corporate Moves
4 Industry Moves at Brown Brothers Harriman, Kresge Foundation, Wespath
Here are some of the biggest people switches in the industry from the past month.
Market Moves
October Surprise: Market Reaction to Trump Illness Is Muted
Perhaps the small losses show investors think not much will change in the presidential race.
Pensions
Texas Employees CIO Tom Tull to Retire
He built out alternatives at the $29 billion retirement system soon after joining.
Regulation
IRS, Treasury Soften Blow of Endowment Tax
NACUBO welcomes rule changes but still opposes tax, which it says diminishes resources for students.
News
LPL: 2020’s Strong 3rd Quarter Means Stocks Will Do Fine in the 4th
When the market’s July-September period is good, the October-December one will be, too, but somewhat less good in a presidential year.
Market Moves
FAANGs Risk Ending Up Like the Nifty Fifty, Cooperman Worries
Celebrated investor draws parallels to the must-have momentum stocks of the 1960s.
Pensions
CPPIB Commits $300 Million to Join IT Firm Buyout Deal
The Canadian pension fund would hold a 24% stake in tech consultant Virtusa after the transaction closes.
Asset Allocation
Yale Endowment Returns 6.8%, Duke’s Shrinks by $100 Million
The Ivy school again produces strong returns, as the North Carolina university’s long-term pool gains only 0.7%.
Asset Management Culture
Mubadala Puts $2 Billion into Silver Lake for 25-Year Strategy
The fund has also taken a minority equity stake of less than 10% in the firm.
Asset Management Culture
CalPERS Taps Yup Kim as Private Equity Investment Director
He joins the $407.5 billion pension giant from Alaska’s sovereign wealth fund.
Asset Management Culture
Harvard’s Endowment Returns 7.3% for the 2020 Fiscal Year
The university cautioned the strong returns may not be enough to blunt the financial impact of the pandemic.
Regulation
Florida Pension Sues Intel Over 7-Nanometer Chip Delay
Lawsuit alleges the chipmaker intentionally misled investors about development progress of new product.
Asset Allocation
Op-Ed: Rethinking Your Inflation-Protection Strategy (Again)
After this year’s swings, longtime investor Tony Waskiewicz takes another look at the benefits of shifting away from traditional techniques to customized strategies.
Coronavirus - COVID-19
Wells Fargo: 2020 Market Is Too Iffy to Put New Money In
The election and the virus could trigger another stock slump, says strategist Christopher Harvey.