Corporate Moves
US Steel Names Bryan Lewis to Newly Created CIO Role
Lewis joins firm just three days after officially stepping down as Penn SERS CIO.
News
News
Exclusive: Minnesota CIO’s Strategy Remains Unchanged After Turbulent Markets
Mansco Perry III discusses his formidable long-term strategy.
Market Moves
Another Trump Tariff Hike Would Spark a Recession, Morgan Stanley Says
If the US lifts the levy to 25% on all Chinese imports, firm sees worldwide economic downturns.
UK’s FCA Proposes Ban on Contingent Pension Transfer Fees
Regulator says lucrative transfer incentives create conflict of interest for advisers.
US Defined Benefit Plans Rise in Q2, Recoup Losses from Q4 2018
The 100 largest US public DB plans saw a $50 billion rise in funding during the quarter.
Regulation
Senate Holds Hearing on Digital Currencies, Blockchain
Crypto proponents argue current banking system is inefficient and exclusionary.
Regulation
CalPERS Board Considers Gag Policy
Once investment decisions are made, board members would be prevented from talking to the press and expressing their views at board meetings.
New Tariffs May at Last Be Affecting the US Economy
Trump’s extension of levies to Chinese consumer goods show an impact in manufacturing and may tick up inflation.
Newsmakers
Japan’s GPIF Shows Small Gain, Recovering from Prior Losses
In June-ending quarter, foreign stocks helped overcome weakness at home.
Asset Allocation
CalSTRS Takes a Look at Other Allocation Options
Pension identifies six potential asset allocations for $236.9 billion portfolio.
Asset Allocation
New Private Equity Commitments Continue at Washington State Investment Board
Up to $650 million in new commitments are part of a plan to keep up the retirement system’s 20%-plus allocation to private equity.
Newsmakers
Pennsylvania SERS Approves $286 Million in New Commitments
State retirement system board also confirms James Nolan as acting CIO.
People Moves Roundup
State Street Names Portfolio Solutions Team, Schroders Strengthens North American Distribution Team, and More.
Corporate Moves
Penn State Gets a New CIO
Joe Cullen will succeed inaugural chief John Pomeroy in September.
Risk
Maryland Plan Misses Target, Lowers Assumptions
Private equity again rises to the top, but it’s not enough to help the fund clear its benchmark.