Regulation
SEC Stops Allegedly Fraudulent Hedge Fund Offering that Raised $39 Million
Manager is accused of misleading investors and using funds to buy luxury apartments.
News
Alternatives
BlackRock Converts Money Market Portfolio to Environmental Fund
Fund will invest 80% in securities that meet its environmental criteria and contribute to the World Wildlife Fund.
Coronavirus - COVID-19
Possible CalPERS Coronavirus Case Forces Investment Meeting Cancellation
The CalPERS headquarters was also closed Monday, the same day as the scheduled meeting.
Coronavirus - COVID-19
Crisis Creates New Class of High-Yielding Stocks
Leuthold’s Opsal identifies 148 of them yielding more than 4%.
Coronavirus - COVID-19
February Volatility Wipes Out $71 Billion in US Corporate Pension Funding
The funded ratio of the 100 largest US plans fell to its lowest level in over three years.
Asset Management Culture
NJ Plan Seeks to Let Police Officers and Firefighters Retire Early
Called the ‘burnout bill’ by advocates, pension beneficiaries could retire after 20 years, but get no health benefits.
Asset Management Culture
Rhode Island Treasurer, Hedge Fund Get Board Diversity Pledge from Telecom
The charge is that directors at $30 billion SBA Communications do not meet the 30% diversity criteria.
Pensions
Exclusive: CalPERS Separates Board From Public Due to Virus Concerns
Starting Monday, spectators will be confined to the pension plan’s auditorium with directors in a separate room, six feet away from one other.
Asset Management Culture
NC State Pension Weathers Market Turmoil Well as Others Crumble
‘You can’t be a gambler, and you can’t profess to have a crystal ball,” says state treasurer Dale Folwell.
Research
UK Defined Benefit Code Revision ‘Biggest Revolution’ in 15 Years
The Pensions Regulator publishes consultation on British defined benefit investing regulations.
Asset Allocation
The Appeal of OCIOs: Questing for Good Returns
Asset managers are turning to outside helpers as a kind of extra ammunition.
Risk
San Francisco Pension Pledges to Go Carbon Neutral by 2050
The city employees’ retirement system joins others around the world who’ve promised to do the same.
Asset Management Culture
Massachusetts Ramps Up Diversity Guidelines
The state’s PRIM Board will vote against nominees if less than 35% of the board is diverse in terms of gender and race.
Market Moves
Expect a 30% Market Drop Overall, Goldman Warns
David Kostin says the S&P 500 has a lot further to fall, due to the coronavirus’ nasty economic effect.
Asset Management Culture
Pattern Energy Calls Lawsuit Challenging CPPIB Acquisition a ‘PR Stunt’
Water Island Capital, which owns 4% of the firm, says the offer price is too low.