SEC Joins FBI in Transition Management Charges
The US regulator follows Massachusetts’ state attorney and the FBI in charging ex-State Street exec Ross McLellan with fraud.
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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.
Investors Pile into Real Assets as Record Numbers Seek Funding
Real estate and infrastructure funds saw a surge in capital raising between July and September—but also record numbers seeking assets.
Is Emerging Market Debt Still Worth the Risk?
Diversifying into emerging market debt may not be as straightforward as some would have you believe.
ADD or Value-Add? Hedge Funds’ Ideal Activity Level
Highly active fund managers tend to outperform those who buy-and-hold in absolute returns, but researchers found that adjusting for risk reversed their results.
2014: A Low-Return and High-Volatility World
Russell
Investments on opportunities in an “uncomfortable reality” of 2014.
DB vs DC Savings: About 3% per Year
That’s the payroll difference for plan sponsors who choose to freeze their pension plans, according to a study.
PIMCO: Rising Bond Rates Will Help Long-Term Investors
PIMCO has found gradual rise in bond rates would eventually increase interest income despite short-term decline in returns.
How Will the Fed’s Decision Impact Emerging Markets?
UBS investment teams have declared that the global economy will continue to grow slowly, with emerging markets picking up in 2014.
SEC: How to Limit Systematic Risk in Financial Markets
Revamping ratings agencies, volatility “speed bumps,” and robust IT: Regulator head Mary Jo White testifies on mitigating risk, SEC-style.
Canada Overdue for New SWFs, Says Report
The Great White North needs more than its current two sovereign wealth funds to shelter and grow its resource wealth, a report argues.
Abu Dhabi, Dutch Pensions, SWFs 'Defrauded' Out of Millions on BNY Mellon FX Trades, Lawsuit Alleges
The US Department of Justice has brought a case against BNY Mellon alleging it cheated customers on foreign exchange services, leading to revenues of more than $1.5 billion from some of the largest institutional investors worldwide.
Reluctant Voices
From aiCIO Magazine's February Issue: State Street's transition management problems have been revealed, but ConvergEx will soon take the lead as the posterboy for the industry's misdeeds. Reported by Kip McDaniel and Elizabeth Pfeuti.
PBGC: American Airlines Has Failed to Prove Reasons for Pension Termination
As American Airlines announces plans to drop its defined benefit pension plans, the Pension Benefit Guaranty Corporation (PBGC) warns of the implications.
Cali. Insurance Commissioner Still Permitted to Oversee State's Iran Biz
Newly settled litigation allows California’s top insurance regulator to keep tabs on the state's insurers’ investments in companies doing business in Iran.