News

New Jersey to Boost Cap on Alts to 38%; Negotiating Fee Cut

New Jersey State Investment Council is planning to boost its alternatives target to 38%, while the state's pension fund for teachers and government workers is negotiating reductions in fees and expenses for private investment managers.

Flash Crash Report Points Finger at Wrong Source of Big Trade That Went Bad

The trade and algorithm blamed for sparking the Flash Crash in the report by the SEC and CFTC was not executed by “mutual fund complex” Waddell & Reed but their executing broker, Barclay's Capital. The report's contention that the algorithm was simplistic and did not take price changes into full account may also be untrue. aiCIO's Joe Flood reports.

Survey Shows SWF Acquisitions Double in H1, Reflecting Confidence in Global Markets

A report released this week shows the number and value of acquisitions made by sovereign wealth funds followed by the Monitor Group and Fondazione Eni Enrico Mattei (FEEM) doubled in the first half of 2010, with SWFs spending the most money in Europe, which accounted for 40% of the total expenditure, followed by North America, which accounted for about a third of the total value of deals, or about $7.5 billion.

Gubernatorial Candidate Bill White Says Texas Investments Politically Connected, TRS Denies

Bill White, the Democrat challenging Gov. Rick Perry, has accused the governor and his appointees of pressuring the staff of the Teacher Retirement System (TRS) to pick investment companies benefiting Perry contributors, yet an external investigative party has stated there are no improprieties with respect to how the investment decisions at TRS were made. 

Canada Funds Seek to Thwart Stake in Potash

Canada's pensions are looking to swoop in to purchase a 30% stake in Potash Corp. to maintain control of the fertilizer company in Canada while at the same time encouraging Chinese investment.