New Fiduciary Rule to Have Minimal Institutional Impact
The US Department of Labor’s final “conflict of interest” rule will not significantly affect fiduciaries already operating under ERISA.
News
Johns Hopkins CIO to Step Down
Kathryn Crecelius will leave the $3.4 billion endowment after nearly 11 years at the helm, CIO has learned.
After Member Revolt, Investor Trade Body Seeks to Rebuild
A former leader of the financial advice industry will become CEO of the Investment Association, and the figurehead of asset managers, later this year.
Fraud Charges, Arrest for Ex-State Street Transition Managers
Ross McLellan and Edward Pennings are guilty of “brazen fraud” and “backroom plotting” in overcharging transition management clients, US prosecutors claim.
PIMCO: Bill Gross ‘Freely and Knowingly’ Forfeited Compensation
In a formal response to Gross’ $200 million lawsuit, PIMCO accuses the former CIO of a “disruptive and unacceptable course of conduct.”
L&G Hires for Cross-Border De-risking
Matt Wilmington has joined to lead major projects with international clients.
Can SWFs Improve Hedge Fund Transparency?
The International Forum of Sovereign Wealth Funds will collaborate with the Hedge Fund Standards Board to improve governance, transparency, and interest alignment.
Legal & General Seals Second US Pension Buyout
The insurer expands its American pension-risk transfer business with a $65 million deal with the Diocese of Palm Beach.
The New Pay Model for Asset Managers
How your fund managers will be rewarded in five years’ time is going to be very different from the present, according to PwC.
Princeton Defends Fee Spend to Legislators
The $22.7 billion endowment has been paying more to external managers over the last three years—but for top gains.
Bill Gross’ New Boss
Enrique Chang's promotion to president and head of investments brings fixed income, equities, and alternatives primarily under his leadership.
Why Benchmarks Lead to Bubbles
London economists argue that benchmarks encourage managers to invest in assets as prices go up, even when securities have no fundamental value.
Consultants: A Barrier to ESG?
While managers and asset owners slowly come around to the idea of ESG investing, investment consultants are the laggards, according to the UN.
Investors Aren’t Countercyclical—But They Should Be
Return chasing is rampant among US pensions, endowments, and insurers, the International Monetary Fund has found.
Louis Bacon’s Family Foundation Allegedly Conned by PE Exec
The Moore Charitable Foundation said it fell victim to Park Hill Group ex-Managing Principal Andrew Caspersen’s $95 million fraud.