Asset Allocation
Ontario Teachers’ Strikes Gold in Flexible Natural Resources Deal
OTPP and New Gold Inc. trade instant capital for free cash flows from a gold mine, with the option to convert to ownership.
News
Market Moves
As Virus Punishes Stocks, El-Erian Warns: Don’t Buy the Dips
Pummeled shares will take a lot longer to recover than normal, Allianz economist says.
Asset Allocation
JP Morgan Chase Commits $200 Billion to Sustainability Financing
Often cited as a climate offender, the bank has capped lending to coal mining and Arctic drilling projects.
Asset Management Culture
Kentucky County Employees’ Retirement System Proposes to Split Board’s Administration
Citing under-representation in the current KRS board, the system puts forth legislation to establish its own panel.
Asset Management Culture
Swiss Asset Manager GAM to Double Savings in Two Years
After dismal 2019, the firm’s board will not receive a bonus, and the CEO will forego a $256,000 cash award.
Regulation
Boston Pension Fund Files Class Action Lawsuits Against Six Flags, HP
Electrical Workers Pension Fund claims investments in Six Flags and HP tumbled 44% and 30%, respectively.
Alternatives
Alternative Funds Top $10 Trillion in Assets Under Management
However, report finds an ‘increasingly challenging’ future for the industry.
Regulation
Data Encryption Startup Settles SEC Charges for Unregistered ICO
Enigma MPC raised approximately $45 million from 6,000 investors.
Asset Allocation
Illinois State Treasurer Pushes for Venture Capital Boost
A new proposal in the state Senate aims to expand grant authorization powers for VC funding.
Pensions
Seeking a ‘Path Toward Stability’ for Health Care, TRS Switches Administrators
The change will save the troubled medical benefits programs $754 million over the next five years.
Market Moves
Goldman Warns Coronavirus Could Bring a Market Correction Soon
Earnings growth is threatened by the epidemic, which has shut down much of China’s economy, strategist says.
Regulation
Rhode Island Pension Alleges Zuckerberg Overpaid 2019 Settlement to Avoid Personal Consequences
State Treasury says Facebook overpaid Cambridge Analytica settlement by $2 billion to win extra concessions from the feds.
Risk
Analysis Says NC Pension’s Fiscal Health in Jeopardy
Report warns that pension’s return assumptions are ‘overly optimistic.’
Regulation
Hedge Fund Manager Gets Nearly 12 Years in Prison for Fraud
Nicholas Genovese pleads guilty to lying about credentials and hiding a criminal background.
Pensions
Canadian DB Plans Rebound in 2019, Return 14%
Strong comeback from 2018 losses provides second-highest return in 10 years.