S&P 500 Pensions Approaching 91% Funded
Increased discount rates, global equity returns generate uptick in the ratios for plans in the index.
News
Washington State Allocates Close to $3 Billion to Private Markets
Majority of commitments go to two private equity funds.
Why the Stock Market’s Dive Was an Overreaction
As benchmark 10-year Treasury finally rises over 3.2%, equity investors fear growth-choking interest rates are en route.
Hedge Funds Criterion, Highfields Shutting Down
The two alternatives firms will close at year-end, unhappy with recent performances.
Newsmakers
QSuper CIO to Depart Next September
Brad Holzberger helped create Australia’s first two-dimensional lifecycle fund during his near-decade stint as investment head.
Corporate Moves
David Villa Tacks On Executive Director Title to CIO Gig
The State of Wisconsin Investment Board, in giving him two jobs, fills the vacancy left by Rick Smirl’s departure.
SEC Charges LendingClub with Misleading Investors
Firm fined $4 million as former president accepts three-year ban from securities industry.
Risk
Yale, Brown, Duke, Michigan State Earn Double-Digit Returns
Endowments surpass median, mean returns for colleges and universities.
Newsmakers
Putin Makes Russian Pension Reforms Law
An extra $7.6 billion from the government will help finance the operation, which gradually raises the national retirement age over the next five years.
International Paper, Prudential Make $1.6 Billion Group Annuity Deal
Prudential will take over the benefit obligations of 23,000 retirees.
Newsmakers
Arizona PSPRS Gets a New CIO
Mark Steed will run the $9.8 billion pension system, replacing the newly retired Ryan Parham.
Storm Impact May Mute September Job Report, but Not Trade War
Economists’ consensus calls for a 168,000 gain in employment, more tepid than the current trend.
UN Launches Tobacco-Free Finance Pledge
Initiative calls on finance industry to tackle ‘tobacco epidemic.’
Alaska Permanent Fund Announces New CIO
Marcus Frampton will take over from Russell Read, who departed the $64.9 billion sovereign wealth fund in July.
Risk
Harvard Endowment Returns 10% in 2018
Improved performance still lags other major universities.