PIMCO Scores on Inflation Bet
Pacific Investment Management Co. (PIMCO) gained $50 million and Morgan Stanley lost tens of millions when they took opposing positions on inflation.
News
Counterintuitively, CalPERS Sues State Street — and Then Rehires Them
As custody banks such as State Street face lawsuits for fraud and misrepresentation over foreign-exchange pricing, industry sources say such allegations may have little material impact on their relationships with pension funds.
Pension Fund Survey: Investors Move to Alts, Shorter-Duration Bonds
A new study by consultants bfinance reveals that pension funds are increasing turning toward alternative investments while market uncertainty is spurring a move to bonds with shorter durations.
Heightened Global Interest in Alternatives Boosts Canadian Hedge Funds
Canadian hedge funds are receiving large influxes of capital due to surging interest in alternatives coupled with Canada’s unique position in a commodities-fueled economy.
World Bank Report: Herding Prevalent Among Pension Funds
A report by the World Bank explains that pension funds herd more in assets for which they have less market information and when risk increases.
Bank of America’s $8.5 Billion Settlement Hit With Legal Challenge
A group of 11 mortgage-bond investors have filed a challenge to Bank of America’s proposed $8.5 billion settlement with holders of its subprime mortgage securities.
Aon Hewitt: De-Risking Tops Priorities Among European Pensions
De-risking is a top priority among pension funds around Europe, a new study by Aon Hewitt shows.
In Second Major European RE Deal, Norway's Oil Fund to Buy Paris Property From AXA
Norway's oil fund -- the Government Pension Fund Global (GPFG) -- has agreed to form a joint venture to buy $1 billion of real estate assets in Paris from AXA.
PIMCO Offers Cautiously Optimistic Outlook on Currencies
Governments will moderate their controls on capital and currency market interventions in the coming years in response to the preferences of international capital, says PIMCO.
China SWF Aims to Buy Facebook Shares
China's sovereign wealth fund and financial firm Citibank are reportedly interested in buying a stake in social network Facebook.
In Allocation Review, NY Teachers' Pension Wards Off Hedge Funds
The $42.3 billion Teachers’ Retirement System of New York City has rejected investing in the hedge fund space.
Internal Report Shows Even Before War, Libya’s SWF Was in Chaos
A 2010 internal document from the Libyan Investment Authority has revealed that the multi-billion dollar sovereign wealth fund was wracked by mismanagement and confusion months before NATO’s intervention into the country.
Report: Short-Term Investing Nature Inhibits Embrace of ESG
First State Investments in Australia has warned that the short-term nature and focus of financial markets is inhibiting consideration of environmental, social and governance (ESG) issues in capital allocation and could be detrimentally impacting long-term company and investment performance.
Calls for New Australian SWF Meet Resistance
Widespread calls for Australia to establish a commodity-backed sovereign wealth fund are meeting stiff resistance from politicians and analysts who question the wisdom of such a fund.
MassPRIM: BNY Mellon Cheated Us Out of $10 Million More Than Originally Thought
Massachusetts State Treasurer Steven Grossman has upwardly revised his June 13 accusation that BNY Mellon overcharged the state’s $50 billion pension fund on foreign exchange trading.