CIO Survey Shows Active Equity Gains Traction
According to the latest quarterly CIO study by KBW analysts, the outlook for active equity has modestly improved, while alternative strategies in particular seem poised to generate new flows.
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After Scandal, Wesleyan's New CIO (a Swensen Protege) Boasts Above-Average Returns
Wesleyan University's Chief Investment Officer Anne Martin is implementing a new philosophy following the scandal of Thomas Kannam, the endowment's former CIO who left the school after being sued for spending most of his time on outside business ventures, despite having a contract that prohibited such behavior.
BP's Former CEO Approaches Abu Dhabi's SWF to Lead New Oil Company
Tony Hayward, the former BP chief executive, has reportedly been approached by Abu Dhabi's sovereign wealth fund -- the Abu Dhabi Investment Authority (ADIA) -- to set up a new global oil company.
Prosecutors Expand Investigation Into Banks on Cheating Pensions
Investigators are in the process of probing banks on overcharging state pension funds for currency trades, the Wall Street Journal has reported.
AXA Rosenberg Settles With SEC, Paying $242 Million for Hiding Computer Glitch
The US computer-based investment branch of the French AXA group will pay $242 million in compensation and fines for allegedly concealing a major program glitch.
PIMCO's Gross Says Bankers Should Be Ashamed
In a 2,000-word diatribe, PIMCO's Bill Gross has said that Central bankers compare unfavorably to the devil and that money managers have failed to properly allocate capital.
Pension Orgs Aim to Set the Record Straight on Public Schemes
A group of 10 organizations representing state and local governments and public pension plans have released a fact sheet to get the facts out on public pension plans.
Bloomberg Urges Major Reform to Plug Pension Hole
New York City Mayor Michael Bloomberg has proposed a major overhaul of the city's expensive pension system, which he has said would be his administration's No. 1 priority in Albany.
ATP Brings Low-Cost Pension Alternative to the UK
With the help of former Conservative pensions spokesman Nigel Waterson, Danish pension ATP is set to launch an alternative to the National Employment Savings Trust (NEST) targeting low to middle-income earners.
Sovereign Asset Managers Switch to Passive, Evolve Their Investment Strategies
According to research prepared by State Street Global Advisors (SSgA), the financial crisis has driven the world's leading sovereign wealth funds to reexamine their investment strategies and make a number of significant changes.
MassPRIM Board Aims to Slash $30 Million in Fees Via Direct HF Investing
The Massachusetts pension may soon directly invest in hedge funds instead of relying on a more costly funds-of-funds approach.
Muni Board Investigating Greater Disclosure at Pension Funds
Motivated by the need for greater transparency in the municipal bond market, the Municipal Securities Rulemaking Board is looking into ways to broaden issuer disclosure of the standing of their pension plans.
Out of Davos, Word That GIC to Hold Citi, UBS Stakes for Long-Term
Singapore's GIC, the biggest shareholder in Citigroup and UBS, plan to hold onto its stakes in the two banks for the long-term, executive director Tony Tan told reporters in the Swiss town of Davos.
Michigan Sues BofA's Countrywide Unit, Seeks $65 Million in Pension Losses
The attorney general alleges that despite its actions, Countrywide Financial Corporation continued to misinform investors that it maintained stringent mortgage loan underwriting standards that differentiated it from its competitors and other subprime lenders.
Pensions Seek to Reduce Equity and Bond Exposure, Favor Alts
According to two separate surveys of pensions, schemes both domestically and globally are intending to reduce their exposure to equities as well as fixed-income, planning greater allocations to alternatives.