Corporate Moves
Neuberger Berman, PIF to Deploy $6B in Saudi Investments
The duo will launch a multi-asset program to support the growth of the asset management industry in Saudi Arabia.
News
Regulation
House GOP Tax Plan Targets Private University Endowments, Private Foundations
The bill proposes increasing tax rates for private institutions with large endowments and private foundations with substantial assets.
Newsmakers
Conning CIO: Insurance Investors Should Be Patient Amid Market Volatility
Cindy Beaulieu emphasizes the quality of U.S. assets and advises insurers to stay true to their strategies.
Newsmakers
Angie Davis Named CEO of JPMorgan’s Timberland Unit, Campbell Global
Davis will succeed John Gilleland in October as chief executive of the $10.1 billion manager.
Market Moves
Institutional Investors Drive Surge in Bond ETFs
BlackRock expects bond ETF assets to more than triple to $6 trillion worldwide within five years.
Corporate Moves
Temasek, T. Rowe Price Among Investors in Benefits Provider, Broker Hub International
The equity investment values the private equity-backed firm at $29 billion.
Regulation
Lawmakers Ask SEC to Delist Chinese Stocks From US Exchanges
In a letter to the SEC, senators and representatives wrote that a ban would remove an ‘unacceptable risk’ and protect American markets, investors and security.
Asset Allocation
Pennsylvania Pension Fund Seeks Divestment of Tesla Shares
The board of Lehigh County’s pension fund has paused purchases of the company's stock and seeks a full divestment.
Newsmakers
Bridgewater Sustainable Investing Co-Chief Takes CIO Role at Acumen
Carsten Stendevad, who was also previously the CEO of Danish pension fund ATP will join the $500 million impact investor.
Corporate Moves
OCIO Provider Brown Advisory Expands to Abu Dhabi
The firm named Jack Weatherby as head of Middle East as part of a regional expansion.
Newsmakers
Northern Trust Asset Management Names Mike Hunstad, Chris Roth as Co-CIOs
The duo will succeed Angelo Manioudakis, who joined the $1.3 trillion manager in 2021.
Corporate Moves
Proposals Against ESG, DEI Set to Increase This Proxy Season
ISS-Corporate research projected how shareholder engagement is likely to change this year.
Research
Approval of Dual Share Class ETF Offerings Anticipated
Among ETF issuers polled by Cerulli Associates, 69% said they either already have filed exemptive relief applications, are planning to or are considering it.
Asset Allocation
Australia’s First Sentier Investors Names CFO, Strategy Officer
The appointment comes just as the firm prepares to launch its first ETF on the Australian Securities Exchange.
Asset Allocation
Proposed Endowment Tax Hikes Would Further Complicate University Investment Strategies
House members have proposed boosting the 1.4% endowment tax rate as high as 21%—matching the corporate tax rate.