Newsmakers
Bridgewater Tells Arizona Pension Fund China Will Be No. 1 Economy in 10 Years
Ray Dalio’s head of China research says trade war is broadly about a power shift.
News
Market Moves
Hoo Boy, Inverted Yield Curve Adds to Stock Market Gloom
For the second time this year, Treasury-based signal flashes: recession ahead. But is this true?
Risk
Norway’s Sovereign Wealth Mega-Fund Divests from Cannabis
$1 trillion GPFG received heavy pushback from narcotics association.
Regulation
Boeing Faces Slew of Class-Action Suits over 737 MAX Crashes
Shareholder lawsuits accuse plane maker of concealing safety problems.
Newsmakers
Lloyd’s Private Banking CIO to Exit
Markus Stadlmann ends a five-year tenure amid Lloyds-Schroders’ joint venture plans.
Newsmakers
WSIB CIO Gary Bruebaker to Retire
After 18 years at the Washington State Investment Board, Bruebaker is trading building good investment returns for other passions such as water sports and vintage cars.
Risk
Norway’s Largest Pension Fund Divests From Alcohol, Gambling Investments
Action latest in KLP’s quest to eliminate ‘sin stocks’ from its $80 billion portfolio.
Proposed Legislation Aims to Help Boost US Retirement Savings
Bipartisan bill calls for increased contribution limits, expanded access for workers.
Many Institutional Investors Confuse ESG with Socially Responsible Investing
White paper says purpose of ESG is to improve financial performance, not change the world.
Wilshire Trust Universe Reports Best Quarter Since 2009
Quarterly return of 8.26% provides strong rebound from 2018’s dismal Q4.
European Commission Fines Banks €1 Billion for Currency Rigging
Barclays, RBS, Citigroup, JP Morgan, and MUFG allegedly participated in forex cartels.
SEC Halts Alleged Diamond-Related ICO Ponzi Scheme
Regulator charges cryptocurrency firms with securities fraud.
CalSTRS Wants to Increase Internal Management
Hundreds of millions in cost savings could be at stake, but building additional external capabilities won’t be easy.
Yikes, Lofty Corporate Debt Will Hurt Us When Earnings Slip, Moody’s Warns
Record leverage, at 46.6% of GDP, leaves companies vulnerable, says economist Lonski.
Risk
CPPIB Returns 8.9% in Fiscal 2019
Foreign private equities were the investment portfolio’s top-performing asset.