Newsmakers
Equities Killed Norway’s Sovereign Wealth Fund in 2018
How overreliance on one asset class led to a $56.6 billion wipeout.
News
Risk
Michigan Endowment Dips Toe into Crypto Pool
University reveals $3 million investment in cryptonetwork fund.
Alternatives
Ontario’s Direct Investment Model Helped ‘Buffer the Impact’ of Global Market Downturns
Strong returns in the system’s infrastructure and private equity strategies pull it out of negative territory for year.
Newsmakers
New York City Leads Anti-Carbon Coalition of Big Funds
Institutional group wants the top 20 public power companies to make good on Paris Agreement goals.
Newsmakers
Penn State Needs a New CIO
Endowment searching for a successor to newly retired first chief financial official.
Asset Management Culture
Ken Griffin: To the Mightiest Companies Will Go the Spoils
Hedge fund honcho looks to strongest companies (seems like the FAANG bunch) to do best in turbulent 2019.
Risk
One Swedish Pension Reserve Did Well in 2018, With a Bittersweet Caveat
Thanks to unlisted assets, AP6 fund beats the market and peers, but not its record from last year.
Regulation
Odds Improving that Kentucky Will Pass Sports Betting to Help Bolster Pensions
However, bill would need 60 of 100 House votes to pass.
Private Equity Fundraising Expected to Slow in 2019
Preqin report says high pricing is putting pressure on future returns.
Newsmakers
Rhode Island Makes a Sustainability Deal with Archer Daniels Midland
Treasurer Magaziner pulls ESG proxy proposal.
Newsmakers
Texas Teachers’ Launches Strategic Asset Study
Pension notes that the current asset allocation is ‘good…but can we do better?’
Regulation
Investors Propose Remedy for Korea Discount
Group says Korean equities have ‘chronically underperformed’ for seven years.
Newsmakers
Top Ratings Agency Slams Illinois Gov.’s Budget Proposal
Pritzker’s plan to bolster the underfunded public pension system via new taxes ‘punts’ on meaningful change, S&P says.
LDI Portfolio Construction May Get Trickier in 2019
As funds lock in 2018 gains, high-quality fixed income could become harder to find, Goldman Sachs exec says.
CalPERS CIO Says Pension Plan Must Create New Private Equity Organization
Plan is essential if CalPERS wants to avoid increasing its approximate $140 billion unfunded liability, Meng says.