Asset Allocation
The Dollar Will Keep Falling, UBS Predicts
Falling rates, political tensions, and less virus fear are the reasons, the Swiss bank’s CIO says.
News
Corporate Moves
Unease Remains Around Incoming Chief at Norges Bank
The supervisory board at the sovereign wealth fund told the national parliament that further control measures are needed to prevent conflicts of interest.
News
LPs Are Placing Fund Commitments on Hold and Engaging in Secondary Transactions More Often
A canvass of LP sentiment from Brackendale finds new trends in transaction styles, accommodations for COVID-19, and an affinity for thorough disclosures from general partners.
Research
Fortunes Diverge for Public, Corporate Pensions
Public pension funding rises, while corporate pension funding falls for second month in a row.
Corporate Moves
At Least Boeing’s Stock Isn’t in Its Pension Plan Anymore
Controversial 2017 contribution of $3.5 billion in company shares to the retirement program apparently was divested, long before the current share-tanking mess.
Pensions
Pennsylvania SERS Loses 11.69% in Q1
Tumbling equity markets helped weigh down retirement system’s returns.
Asset Management Culture
MassMutual Reportedly Exploring $2 Billion Sale of Retirement Services
The life insurance company apparently no longer considers the DC plans integral to its business.
Market Moves
Hey, Washington, Buy Gold to Support Dollar, Guggenheim CIO Says
Scott Minerd calls on Fed to increase its holdings of the metal—which, unlike the dollar, is rising in value.
Asset Management Culture
Harvard Says It’s Not Planning Layoffs, But Offers Early Retirement Packages
Other cost-saving proposals at endowment champ: voluntarily reduce vacation time or work hours.
Risk
Florida Pension Sues Grand Canyon Education
Class action lawsuit alleges company artificially inflated stock price.
Market Moves
Druckenmiller Owned 5 Hot Stocks, but Only Gained 3% in the Rally? Huh?
Half his portfolio was in the likes of high-flying Amazon, but he came nowhere near the S&P 500’s 40% March-June rebound. Was caution-minded hedging to blame?
Alternatives
Calvert Will Score Companies on ESG to Add to Its Funds
To make the grade for its separate accounts, companies must be in the top third for at least one sustainability metric.
Regulation
UK Regulator Targets Defined Benefit Transfer Weaknesses
FCA bans contingent charging, finds British Steel pensioners received worse advice than most.
Asset Allocation
Brunel Hits Carbon Intensity Target, Varma’s Real Estate to Be Carbon Free by 2030
European funds with a combined $87.2 billion in assets look to reduce their carbon footprints.
Newsmakers
Austin Takes Steps to Save Local Pensions
The city’s Audit and Finance Committee enables new legislative allowances to save its police and employees’ retirement systems.