Newsmakers
Black-Owned Asset Manager Sues NJ Pension Fund, BlackRock for Racial Bias
State officials purportedly admitted the agency had ‘an aversion’ to minority-owned firms, the lawsuit says.
News Archive: Jun - 2020
Asset Management Culture
Pennsylvania Fund Debates How Best to Invest in Today’s Environment
Low stock valuations and bond yields leave PSERS questioning next moves.
Manager Selection
Conducting Due Diligence During a Pandemic
Mercer-Backstop alliance allows asset allocators to kick the tires on investments remotely.
Market Moves
Active Funds Still Are Losers, Malkiel Says
Contrary to current predictions, pandemic-propelled volatility won’t finally let them outshine index portfolios, passive investing’s father argues.
Asset Management Culture
CPPIB Ex-Chief Mark Wiseman Named AIMCo Board Chair
The industry head joins the Alberta investment manager just as the province is considering seceding from the national plan.
Asset Allocation
Vatican Calls for Catholics to Divest from Fossil Fuels
Church urges its 1.2 billion members to invest in renewable energy and to monitor mining activities.
Risk
Supreme Court Reigns in SEC’s Disgorgement Powers
Questions arise: Should disgorgement fees exempt the marketing costs of fraudsters?
Opinion
Op-Ed: An Allocator’s Role in Fighting Discrimination
Hartford HealthCare’s CIO David Holmgren illustrates how he is fighting against social injustices, in response to a CIO column written by Tony Waskiewicz that called for examples of allocators in action.
Coronavirus - COVID-19
Pandemic Will Slice 7% from World’s Wealth in 2020, Says BCG
A painful $16 trillion could vanish from the planet’s coffers, only the second down year this century, Boston Consulting’s study estimates.
Alternatives
Toll Roads Face Long Road to Recovery: Bad News for Funds Eyeing Infrastructure
The typically stable asset class has been hit as traffic levels have dropped 40% to 85% globally, S&P analysts say.
Pensions
Trade Association Says UK COVID Bill Could Hurt Pension Industry
The PLSA warns of ‘unintended negative consequences’ for pensions of insolvent firms.
Asset Allocation
Ray Dalio Fund’s Assets Tumbled 15% During Pandemic Crash
The world’s largest hedge fund took a long tilt in its positions leading up to the market dive, underestimating the coronavirus threat.
Risk
Attack of the Zombies: Potential Deadbeats Are Almost 20% of Companies, Says DB
US businesses that lack the income to pay their huge debt service, kept alive by more borrowing, are on shaky ground, Deutsche Bank Securities’ Sløk warns.
Asset Allocation
T. Rowe Study: Rebalancing Even in a Market Fall Is Vital
Sticking with a plan to regularly overhaul asset allocation is always a good idea, says the money manager.
Pensions
Tesla and Walmart Under Pension Fund Fire on Board Pay and Opioid Sales
The automaker has been sued by the Detroit Police and Fire retirement system over big payouts, and the retailer by the Detroit plan and a Norfolk County (Mass.) plan on how it distributes the drug.