Coronavirus - COVID-19
Endowments Weather Pandemic Better Than in Great Recession
Larger endowments outperform smaller ones due to less US equity exposure.
News
Asset Management Culture
Majority of Insurers Confident in Asset Managers During Downturn
They’re also upping their allocations into alternatives, such as private equity and private credit, says a State Street survey.
Asset Management Culture
Pennsylvania SERS Names Seth Kelly CIO
Kelly replaces Bryan Lewis, who left last year and is now CIO of US Steel.
Asset Allocation
Sam Zell Calls Markets ‘Too Optimistic,’ Expects U-Shaped Recovery
Although he says the economy is now in a recession, Zell doesn’t think it will be as deep as expected.
Newsmakers
DOL Proposes Exemption, New Compensation for Fiduciaries
Investment professionals acting in their clients’ best interest can receive compensation for advice such as rollover recommendations, the agency said.
Asset Allocation
Is Setting ESG Standards Too Puzzling? Get Wide Feedback, SASB Says
If the rules seem subjective or unworkable, a good alternative for companies is to ask outside groups for their input, the sustainability advisory group suggests.
Market Moves
GDP Growth Will Limp Along for the Next 10 Years, Says Moody’s Economist
In the most far-reaching pessimistic forecast yet, John Lonski blames productivity stagnation.
Opinion
Op-Ed: Building a More Diverse Next Gen: Proprietary Sourcing Extends Beyond Deal Flow
Firms must develop diverse leaders for the future, writes CIO Leslie Lenzo and her team at Advocate Aurora Health in response to Tony Waskiewicz's call to action.
Risk
Pension Fund Sues Facebook Over Timing of Stock Buybacks
Lawsuit questions whether buybacks were designed to boost stock sales by Mark Zuckerberg and other insiders.
Asset Management Culture
Board Member Sues CalPERS over Alleged Retaliation
Margaret Brown claims she was wrongly punished ‘to silence one of the only watchdogs on the CalPERS board’ and seeks to dispute discipline.
Manager Selection
Former Wilshire President Joins Rhode Island Treasury as CIO
Andrew Junkin will lead the state pension system’s investment operations after 15 years at the consulting firm.
Risk
Worse Than You Think: We’re in a Depression, Says UCLA Economist
The virus has so disrupted the US economy that recovery is a long way off, David Shulman contends.
Pensions
Nonprofit Hospitals’ Pension Funded Status Could Weaken After COVID Relief
The CARES Act has given many health care pension funds short-term relief, but that could result in lower funded ratios, says S&P.
Regulation
SEC Halts Brothers’ Alleged Cryptocurrency Offering Fraud
Sean and Shane Hvizdzak are accused of pocketing $26 million of investors’ funds.
Regulation
DOL Proposal Will Chill ESG Corporate Pension Investing, Advocates Say
The proposed federal rule takes a dim view of sustainable investing that’s not focused solely on returns.