Risk
Africa’s Largest Pension Fund Returns 8.6%
The Public Investment Corp. approaches $150 billion.
News
Optimistic Republicans Bought Stocks, Democrats Didn’t, to Their Regret
MIT study shows how reaction to the 2016 presidential election shaped investing along partisan lines.
CalPERS Names 12 Firms not to Divest over Iran, Sudan
Investment committee research finds companies don’t meet divestment threshold
Newsmakers
Tesla Comes Out on Top Despite SEC Suit, Musk’s Board Resignation
The SEC Twitter scandal looked like a nail in Tesla’s coffin, but a swift settlement surged shares and will see the automaker remain CEO at the expense of his chairman gig and a $40 million payment.
CalPERS to Review Whether International Stock Holdings Should Be Reduced
A decade ago, the largest US pension plan decided to abandon its home country bias favoring US stocks. Now, pension officials wonder if it was the right move as US stock performance has shined.
Market Moves
FTSE Russell to Add China A-Shares to Global Indexes
Move expected to bring initial passive inflows of $10 billion.
Risk
NJ Pension Fund Returns 9.06% in Fiscal 2018
Solid returns raise fund’s total market value to $78.2 billion.
Report: Trustees Leading Public Pension Funds Astray
Unaligned incentives of board members are being blamed for state pension funds’ financial woes.
CFOs Are Slightly More Downbeat About the Domestic Economy
Interest rates hikes and the trade spat could affect company fortunes, they say in Deloitte survey, although overall optimism is still strong.
China Investment Corp.’s Fixed Income, Absolute Return Head Quits
Fan Hua’s departure from the $930 billion sovereign wealth fund makes her the third executive to leave this year.
Newsmakers
Russian Pension Reforms Pass in Final Duma Reading
Controversial measure, which increases the retirement age, now goes to parliament’s upper house.
State Treasurer Calls for Investigation into CalPERS CEO’s Hiring
Board approves 4% raise, $84,873 bonus, but controversy continues over Frost’s educational credentials.
Newsmakers
State Duma Approves Putin’s Pension Proposals
Measure’s third and final lower house reading to be held today.
US Will Be Victor in Trade War, El-Erian Says
Allianz economist says American economy and stock market shouldn’t be hurt by the conflict.
SEC Fines Voya $1 Million for Cybersecurity Breach
By impersonating contractors for the firm, intruders gained access to personal information of 5,600 customers.