Alternatives
Despite Strong Returns, New Mexico Exits Core Real Estate Strategy
Pension cites Berkshire’s lack of ability to ‘scale up going forward.’
News
Asset Allocation
Middle-Market Strategies Dominate Texas Municipal’s Latest Commitments
Retirement fund recommends $650 million in investment activity at its last meeting.
Risk
World’s Largest Sovereign Wealth Fund Flexes Its Muscles
Norway’s pension giant has divested from 240 firms since 2012.
Newsmakers
California Supreme Court Rules in Favor of Pension Benefit Cuts
Despite the ruling, the court sidestepped a much larger issue, whether core pension benefits promised at the time of hire for public workers can be changed.
Market Moves
Dow Soars Aloft on Boeing’s Wings: A Good Thing?
Venerable price-measured index benefits from good news for aerospace giant and its soaring stock.
Asset Management Culture
Help Wanted: UC Seeks Private Equity Director, Investment Officer
The $120 billion California university system endowment wants collaborative types.
Regulation
Church Investors Want to Speed Up ESG Reforms for FTSE 350 Companies
Climate change, board diversity among $27.7 billion faith group’s top priorities.
Risk
Rhode Island Pension Beats Benchmarks
State retirement system’s investments return 4.14% in January.
Canadian Multi-Employer Pensions Fall from Fully Funded in Q4
Funded level of Segal Group model falls to 95% from 102%.
Exclusive: CalPERS Aims to Advance Private Equity Plan
Investment committee members may vote on the plan in two weeks.
Market Moves
Bill Gross Says He Has Asperger’s and Adopts Liberal Economics Line
The erstwhile Bond King reveals surprises as he heads for retirement.
Newsmakers
Warren Buffet Tells Pensions and Endowments to Cut Management Fees
Wizard of Omaha has slipped in some subtle advice for funds in Berkshire’s annual letter.
Market Moves
Dalio Backs Off of Recession Prediction
Bridgewater titan’s forecast shows less doom and gloom than before, although some concern remains.
Accountant Trustee Used Pension as ‘Personal Piggy Bank’
UK regulator also charges husband and wife for defrauding charity.
Regulation
Fort Worth Declares Pension Problem ‘Solved’
City employees approve plan to increase contributions to retirement fund.