Pensions
Treasury OKs Benefits Cuts for Ohio, NY Union Pensions
Cincinnati roofer, Niagara Falls electrical worker plans are 16th and 17th funds affected.
News Archive: May - 2020
Market Moves
Rhode Island Pension Plan Holds Down Losses Thanks to Treasuries, Algorithms
Although the first quarter was a wipe-out for plans, a surge in a special-strategy segment of the portfolio limited the damage in the smallest state.
Regulation
Ex-State Street Exec Loses Fraud Appeal
Ross McLellan was convicted in 2018 of plugging hidden commissions into trades.
Market Moves
Enjoying the Post-Bear Rally? A Correction Is Overdue, LPL Strategist Says
The bounce back from the February-March slide is getting old, Ryan Detrick points out.
Alternatives
Temasek Joins Facebook-Backed Libra Association
The Singapore sovereign wealth fund is the first government-owned entity to join the blockchain project.
Alternatives
ESG Proves to Be Safe Haven During Times of Turmoil
Research from BlackRock, Bank of America shows ESG outperformed during Q1 market meltdown.
Market Moves
Stocks Now Are the Spittin’ Image of 2009, Morgan Stanley Strategist Says
And ’09 was the rebound year from the financial crisis bear market, Michael Wilson notes, meaning we’re in for a bullish stretch.
Pensions
Goldman Sachs Estimates Public Pensions Now Less than 60% Funded on Average
Senior Pension Strategist Michael Moran says local government spending limits will stymie funding levels.
Coronavirus - COVID-19
US Corporate Pension Funded Ratio, Risk Transfer Costs Decline in April
Falling discount rates strike again, negating the market rebound for corporate DB plans.
Corporate Moves
Texas A&M Foundation Taps Michael Pia for CIO
The former Texas TRS managing director will oversee the roughly $1.9 billion university endowment.
Corporate Moves
CalSTRS Searches for Director of Investment Services
The position on the senior investments team will replace COIO Debra Smith, who retired this month after 24 years at the fund.
Alternatives
Alternative Investors Target Health Care, Logistics, Shun Real Estate
Managers see short-term disruption from pandemic but are optimistic about the long term.
Regulation
SEC Appoints Receiver for Florida Firm Charged with Fraud
TCA Fund Management allegedly falsely inflated asset values by $130 million.
Asset Management Culture
Exclusive: Oklahoma Police Pension Employees Return to Office
Staff members will follow sanitation and social distancing protocols required by the state, the executive director said.
Market Moves
Forget about Inflation, Deflation Is the Real Threat, BofA Says
The massive Washington stimulus raises fears of spiraling prices. But those anxieties are off-base, bank economist Harris contends.