Research
How the Fed’s Balance Sheet Reduction Could Thwart Easing of Policy Rate
Lowering its stash of long-dated bonds would have an impact on long-term yields, BlackRock finds.
News
Risk
Large Institutional Investors Rally Against Tesla Pay Package
NBIM, CalSTRS among funds voting against $56 billion pay package for executive Elon Musk.
Newsmakers
Bryn Mawr Capital Management Names Bank of New York Mellon’s Jasmine Yu CIO
Yu joins the WSFS Financial-owned firm to lead its investment strategy and solutions team.
Corporate Moves
Good News: Earnings Log Best Growth Rate Since Post-Pandemic Surge
S&P 500 profits are headed for a good 2024, a FactSet survey shows.
Asset Allocation
CalPERS Returns 3.3% in the First Quarter, Decreasing Size of Buyouts in Portfolio
Assets of the US’s largest pension fund reached $495.3 billion at the end of Q1 as the fund prepares to increase its allocation to alternatives.
Pensions
UN Pension Fund Earns 2.42% in May, up 3.29% Year to Date
The $91 billion pension fund’s performance was led by public equity, which returned more than 4% last month.
Newsmakers
Dustin Antonini Is Named CIO of Saskatchewan Healthcare Pension
The appointment of the investment chief is effective immediately.
Newsmakers
Thomas Leone Appointed CIO of Insurer Sompo
The new officer joins from PartnerRe, effective date: October 1.
Newsmakers
Alex Bacchus Appointed Acting CIO of NZ Super
Bacchus will step in for Stephen Gilmore, who is leaving for CalPERS.
Pensions
Pension Risk Transfer Premiums Reach $14.6 Billion in Q1
146 contracts were sold in the quarter, a 26% increase from Q1 2023 and an all-time record.
Regulation
PBGC Grants $90M to 2 Multiemployer Plans
1 plan was in the entertainment industry and the other in the service industry.
Manager Selection
Wilshire Releases Diverse-Owned Manager Report
The sixth annual report finds that Wilshire’s diverse clients more than doubled since 2018.
Corporate Moves
Swedish Pension AP7 Blacklists Oil Giant Aramco
The $115 billion fund also added six other firms to its banned roster for ‘acting against the targets of the Paris agreement.’ Most are in China.
Asset Allocation
New University of Austin to Add $5 Million in Bitcoin to Endowment
The school, formed in opposition to what some critics call academia’s leftist mindset, goes against many allocators’ wariness about crypto.
Regulation
Appeals Court Vacates SEC’s Private Fund Adviser Rule
The court ruled that the SEC lacked the authority to regulate private fund advisers' relationship with investors.