Market Moves
Hong Kong Pension Warns Coronavirus Will Hurt 2020 Returns
$124.6 billion Mandatory Provident Fund says virus ‘has affected the investment market worldwide.’
News Archive: Feb - 2020
Asset Management Culture
Research Finds Large Variations in Performance Across LPs Investing in the Same Funds
Harvard/Stanford paper finds pensions would have earned an aggregate $45 billion more if private equity fund distribution waterfalls were uniform.
Market Moves
Trump Is No. 2 Earnings Grower Among Post-WWII Presidents
His 13.4% yearly corporate profit increase, admittedly over just three years, is bested only by Obama’s 26% over eight, CFRA’s Stovall finds.
Pensions
Norway’s Pension Fund Rakes in Record $180 Billion Return for 2019
Norges Bank Investment Management also deliberates eight candidates for CEO job.
Asset Allocation
Texas Episcopalians Will Pay $13 Million in Racial Reparations
Compensating descendants of slaves is controversial, but the idea has gained traction in recent years.
Alternatives
Georgia Senate Passes Bill to Allow Teachers’ Pension to Invest in Alts
$78.9 billion pension fund would be permitted to invest as much as 5% of portfolio in alternatives.
Corporate Moves
Wells Fargo to Pay $3 Billion Settlement for ‘Gaming’ Investors
Payment includes $500 million civil penalty distributed to investors by SEC.
Pensions
Multiemployer Pension Funding Reaches Pre-Financial Crisis Levels
Double-digit asset gains boost aggregate funded ratio to 85% in 2019.
Asset Allocation
Ontario Employees Pension Returns 11.9% in 2019
Public equity returns of more than 20% help boost OMERS’ total asset value to C$109 billion.
Asset Allocation
Ontario Teachers’ Strikes Gold in Flexible Natural Resources Deal
OTPP and New Gold Inc. trade instant capital for free cash flows from a gold mine, with the option to convert to ownership.
Market Moves
As Virus Punishes Stocks, El-Erian Warns: Don’t Buy the Dips
Pummeled shares will take a lot longer to recover than normal, Allianz economist says.
Asset Allocation
JP Morgan Chase Commits $200 Billion to Sustainability Financing
Often cited as a climate offender, the bank has capped lending to coal mining and Arctic drilling projects.
Asset Management Culture
Kentucky County Employees’ Retirement System Proposes to Split Board’s Administration
Citing under-representation in the current KRS board, the system puts forth legislation to establish its own panel.
Asset Management Culture
Swiss Asset Manager GAM to Double Savings in Two Years
After dismal 2019, the firm’s board will not receive a bonus, and the CEO will forego a $256,000 cash award.
Regulation
Boston Pension Fund Files Class Action Lawsuits Against Six Flags, HP
Electrical Workers Pension Fund claims investments in Six Flags and HP tumbled 44% and 30%, respectively.