Pensions
NYC Teamsters Pension Reapplies for Benefits Cuts
Local 807 Labor-Management Pension Fund participants could see average benefit reduction of 21%.
News
Asset Management Culture
Women, Minorities Manage Just 13% of Charitable Assets, Study Finds
That share of the pie gets even smaller—to 3%—when more stringent definitions of ‘diversity’ are applied.
Regulation
NJ Pension Fund Trustee Sentenced for Embezzling over $360K
Founder and trustee of a vending machine company’s pension sentenced to two and a half years in federal prison.
Pensions
Canada Pension Plan Investment Board Posted Lackluster 3.6% Return in Third Quarter
Pension giant increases its net asset value to $318 billion.
Pensions
UK Universities Launch Largest Strike in History over ‘Radical Changes’ to Pension Plan
University staff start 14 days of strikes at more than 70 campuses.
CIO NextGen: Nominations Open
It’s time for asset owners and managers to help spotlight the industry's best up-and-comers.
Asset Management Culture
At Ivy League Endowments, Performance Dragged Down by Managers’ Picks
Private equity had a good year, but individual selections of stocks and other assets hobbled overall showing, report says.
Market Moves
Value’s Latest Dive Shocks Cliff Asness
AQR co-founder had called for adding more low-priced stocks, figuring their bad times had ended. Oops.
Corporate Moves
Skjervem Resigns From Oregon State Treasury
The chief investment officer is moving to an investment management consulting firm in Northern California.
Risk
Texas TRS Looks to Replace Some Public Equity Allocation with Private Credit
The fund’s new CIO Jase Auby describes the portfolio’s new path forward.
Regulation
Stanford University Owes $43 Million Endowment Tax Bill
The university said it is actively working to repeal or limit the 1.4% tax on returns.
Asset Management Culture
Ex-NBA Player Says He Was Denied COLAs in Pension Case
Former Houston Rockets team member Zaid Abdul-Aziz is entitled to additional benefits for the rest of his life, suit says.
Manager Selection
Mississippi PERS Names New CIO After Seven-Month Search
Retirement system names Robert Clark to manage the $29.6 billion portfolio.
Regulation
Proposed UK Law Would Require Pensions to Report Climate Impact, a First Worldwide
However, trade association warns it would give the government ‘unprecedented new powers.’
Asset Allocation
Cryptocurrency Scam Allegedly Swindles Doctors Out of $33 Million
Michael Ackerman boasted his algorithm generated monthly profits of 15%.