CBO Finds Butch Lewis Act Costs Much Less than Expected
Pension reform is expected to cost $34 billion, not $100 billion as suggested in preliminary forecast.
News
Research
Harvard Farmland Acquisitions Criticized as Unethical
Report says endowment’s $1 billion global land grab has displaced communities and hurt the environment.
Trade War Could Slam US Stocks with Losses Up to 20%, Tepper Says
Appaloosa chief warns that further tariffs in US-China clash could crimp the heady market.
Newsmakers
Legal & General, British Airways Cut Largest UK Bulk Annuity Deal
The financial services company will take over $5.7 billion of the airline’s pension liabilities.
Advisors Increasingly Turn to External Asset Managers
Survey finds growing number of financial advisors need outside help.
Gore Calls on Institutional Investors to Adopt ESG Focus
At PRI annual conference, the former US vice president says ESG investing is needed to combat climate change.
Newsmakers
Kentucky Supreme Court Pension Hearing to Air on State Television
In the second televised high-court case, opponents A.G. Beshear and Gov. Bevin will testify.
Newsmakers
Struggling Cincinnati Pension Plan Applies for Benefits Reduction
Laborers Local No. 265 is seeking a flat reduction of 40% of benefits.
Global, US Economies Should Be Fine Through 2019, Bank Says
Growth is expected to slow next year, though, according to BNP Paribas.
PRI Leader Calls on Institutional Investors to Take Climate Change Action
Fiona Reynolds warns that government action will occur if institutional investors don’t ramp up climate change investment initiatives.
Newsmakers
CIO Announces Innovation Awards Finalists for Dec. 13 Gala
Ninth annual Innovation Awards nominees list was honed by asset owners and consultants representing $1.8 trillion in assets under management.
Newsmakers
Connecticut Study Group Eyes Possible Ways to Plug State’s Pension Gap
Officials point to state lotto, real estate, and benefits changes to help decrease the $127.8 billion shortfall.
Another Economic Plus Sign: Small Business Capital Spending
National Federation of Independent Business survey shows smaller companies are laying out more.
Two UK Superfund Heads Quit on Cusp of First Deal
Alan Rubenstein and Marc Hommel have exited the fledgling DB consolidation, and one of its two capital backers has pulled out as well.
S&P 1500 Pension Funded Status Treads Water in August
Rising equities were offset by a falling discount rate during the month.