Risk
Artificial Intelligence? Start Investing Now, Says Foundation Group
Two major US private foundations lead venture capital push into AI, which they say will disrupt multiple industries.
News
Pensions
Kentucky Governor’s Budget Plan Would Cut State Pension Contributions
State retirement system pegs the shortfall at $83 million, but Beshear says it’s $25 million.
Market Moves
Energy Stocks Are Doomed, Warns Savant Jeremy Grantham
GMO co-founder, a climate change activist, compares their paltry returns to the S&P 500’s tripling over 10 years.
Manager Selection
UN Pension Fund Seeks Adviser to Suggest Board Changes
Fund is asking for a wide range of ideas on structural changes to its oversight.
Regulation
US Treasury Offers Schedule for 20-Year Bond Revival
Auctions will take place each year in February, May, August, and November.
Manager Selection
CalPERS Board President Wants Transparency in Second Term
Fresh off his re-election campaign, Henry Jones pledges good governance, a focal point of his platform.
Market Moves
Business Spending Is Headed for Another Pinch-Penny Year
The tempo of cap ex should slow to just 1% growth in 2020, the Conference Board predicts.
Pensions
Europe’s Largest Pension Fund Vows to Be Climate Neutral by 2050
The Netherlands’ ABP unveils sustainability plan for $515 billion portfolio.
Regulation
Norwegian Internet Company Opera Sued over ‘Misleading’ IPO Documents
Class action lawsuit accuses software firm of predatory lending practices.
Corporate Moves
Ernst & Young Plans to Go Carbon-Neutral by End of Year
Why would a white-collar company be an environmental threat? Think voluminous air travel.
Regulation
Mennonite Accountant Charged in $60 Million Ponzi Scheme
Philip Riehl allegedly scammed fellow Mennonites and Amish for nearly a decade.
Asset Allocation
Canadian Defined Benefit Plans Return 13.6% in 2019
End-of-year equities rally boosts returns for pension plan portfolios.
Asset Management Culture
Sustainable City-Building ‘London Fund’ Emerges After Brexit Dust Settles
Three pensions pool their capital to invest in residential property/affordable housing, regeneration, digital infrastructure, and clean energy.
Asset Allocation
NY to Investigate Coal Investments to See If Green Efforts Are Improving
Move is a step in the New York State Common Retirement Fund’s overall plan to decarbonize its portfolio.
Asset Management Culture
M&A Will Rise in 2020, Just Not as Fast, Survey Says
Deloitte poll finds that 63% of dealmakers look for more activity this year, down from 2019’s expectations.