Corporate Moves
Rhode Island CIO Departs for Washington Hospital System
Alec Stais informed the state pension plan last month of the move.
News
Asset Management Culture
Fighting Climate Risk More Popular in Finance Industry Boardrooms, Survey Says
In GARP poll, 90% of boards were involved in sustainability efforts.
Pensions
CPPIB Returns 3.1% in Fiscal 2020
Market downturn dampened strong first three quarters of the year for Canadian pension plan.
Coronavirus - COVID-19
An Optimistic Jamie Dimon Sees a 3rd Quarter Recovery
JPM chief points to massive Washington relief efforts as the economy’s savior.
Coronavirus - COVID-19
New Jersey to Postpone Pension Payments
A September payment has been deferred to October, or the start of the next fiscal year, as the state makes deep cuts and deferrals to stanch revenue losses.
Asset Allocation
University of California Now Fossil Fuel Free, Cornell Votes to Halt Carbon Investments
Downturn in traditional energy sector helps spur universities’ shift to clean energy projects.
Alternatives
MUFG Forecasts Expansion of Private Markets Activity Post-Pandemic
A further consolidation of private funds, big opportunities in distressed debt, and flexibility in opportunity sets are in the cards for private markets investors.
Risk
Georgetown University Student Demands Tuition Refund for COVID Losses
The school has reaped ‘millions of dollars’ in tuition fees after switching to online classes, despite boasting a $1.8 billion endowment, suit says.
Manager Selection
Florida Pension Fund Sues Ryder System for Securities Fraud
Lawsuit alleges the transport company’s executives overstated the residual value of its fleet.
Alternatives
SEC Recommends Creating Disclosure Framework for ESG Investments
Investment committee finds current ratings to be too confusing for investors and aims to create a firmer standard for reporting ESG metrics.
Risk
Credit Raters Get Slammed Once Again as Too Lenient
S&P and Moody’s take it heavy in an SEC hearing. A run-up to a replay of their 2008-09 vilification?
Pensions
Treasury OKs Benefits Cuts for Ohio, NY Union Pensions
Cincinnati roofer, Niagara Falls electrical worker plans are 16th and 17th funds affected.
Market Moves
Rhode Island Pension Plan Holds Down Losses Thanks to Treasuries, Algorithms
Although the first quarter was a wipe-out for plans, a surge in a special-strategy segment of the portfolio limited the damage in the smallest state.
Regulation
Ex-State Street Exec Loses Fraud Appeal
Ross McLellan was convicted in 2018 of plugging hidden commissions into trades.
Market Moves
Enjoying the Post-Bear Rally? A Correction Is Overdue, LPL Strategist Says
The bounce back from the February-March slide is getting old, Ryan Detrick points out.