Newsmakers
Hirtle Callaghan Goes Tactical in 2019
As volatility returns to the market, the OCIO says investors shouldn’t run from risk assets.
News
Passive Investing to Overtake Active in 2021, Says Moody’s
Indexes now make up a bit more than one-third of funds, but will reach 50% in two years, the agency says.
Survey Highlights Need for Auto-Enrollment in Public Sector Supplemental Retirement Plans
As defined benefit plans shrink, supplemental plans are growing – but full participation may be hard to achieve without automatic enrollment.
Alternatives
CPPIB, Williams Form Infrastructure Joint Venture
$3.8 billion deal between Canadian pension fund and pipeline company is to develop natural gas transportation.
Moody’s Downgrades Rise, Amid Towering Corporate Debt
Downgrades continue to outnumber upgrades, although interest coverage seems stable enough, for now.
Bonuses Down 15% for Wisconsin Pension Managers
Incentive payout for 2018 was lowest amount in the past five years.
Regulation
SEC Charges Volkswagen with Defrauding Bond Investors
Regulator accuses automaker of ‘massive fraud’ to sell bonds at inflated prices.
Alternatives
Oregon’s CIO Prepares ‘Snarky Remark’ to Defend Millions in Fees to Fund Managers
Skjervem says the state would be billions of dollars worse off if not for these funds.
Newsmakers
Bridgewater Makes a Bold Bet on Brazil
Ray Dalio’s mammoth hedge fund thinks the debt-stricken land’s growth will be the ‘strongest in the world’ in 2020.
Rubicon Shutting Down 20-Year-Old Flagship Fund
Paul Brewer’s baby suffered from tumultuous volatility in recent years.
CalPERS Investment Committee Approves Private Equity Plan at Urging of the CIO
New CIO Ben Meng says system can’t access ‘private equity exposure on the scale that we need.’
Newsmakers
Register for the 2019 CIO Summit
Annual two-day event to feature hot-button discussions from the world’s leading asset owners.
CalPERS Approves New Private Equity Investment Organizations
The pension system would invest up to $20 billion in direct style private equity investments, but it’s unclear when the plan could start.
Newsmakers
Brown University Settles ERISA Class Action Suit for $3.5 Million
Complaint alleged excessive fees cost 403(b) participants millions.
Regulation
Vending Machine Owner Indicted for Embezzling from Employee Pension
Howard Preschel allegedly claimed the plan’s money belong to him, not his workers.