CIO Innovation Awards: Nominations Open Until August 12
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News Archive: Jul - 2021
Asset Allocation
Jerome Powell Won’t Get a 2nd Term as Fed Head, Says JPM Economist
The Democrats’ left wing will want a kindred spirit, rather than the GOP-appointed incumbent, Michael Feroli thinks.
Corporate Moves
CIO Summer Hiring Continues to Sizzle
Sammons Financial, Aspen Insurance, and Insigneo are the latest firms to appoint new CIOs.
Manager Selection
Investment Firm CEO Gets 5 Years in Prison for Securities Fraud
L-R Managers co-founder Donald LaGuardia has also been ordered to pay $6.6 million in fines and restitution.
If Governments Can Just Keep Their Cool, the Economy Will Be Fine, Says Savant
The 2020 recession was driven by policy, so any Delta-inspired double dip would be, too, Commonwealth’s McMillan warns.
Asset Allocation
TexPERS Returns 4.6% in Fiscal 2020
The performance falls well short of the pension funds’ benchmark and assumed rate of return.
14 UK Pension Funds Sign Prince of Wales’ Climate Pledge
Investors with $315 billion in assets under management commit to setting net-zero goal within a year.
Asset Allocation
Big Tech Is Too Expensive? Don’t Believe It, Says Cooperman
The billionaire investor thinks high P/Es now offer a better deal than in the future, when they’ll rise more.
Research
Report: Fat From Funding, Corporate Pensions May Want to Hibernate
Now is a good time for well-funded DB plans to think about a hibernation portfolio, according to NISA.
Global Equities Spur Endowment Index 6.17% Higher in Q2
Its performance just beat the 6.11% gain posted by a 60/40 stock/bond portfolio.
Pensions
Five CalPERS Board Members Take Sides in Election Race
Margaret Brown, a frequent critic of investment staff and the board, is up for re-election—and some of her peers are supporting her opponent.
Asset Allocation
Ackman: Delta Variant Won’t Stop a Roaring Economy
Recovery stocks are the place to be, says hedge fund chief, in contrast to his jeremiads of 2020.
CEO, CTO Accused of Misleading Investors on COVID-19 Test
Parallax Health Sciences and the two executives settled charges related to claims the company made about a coronavirus screening test.
Alternatives
CalPERS’ In-House Private Debt Program Is Dead
A California legislative committee killed a bill that would have allowed the pension system to hand out loans without full public disclosures about the borrower.
Alternatives
What’s Going to Happen to the Gold Price?
The yellow metal, after soaring in 2020, had a rough first half this year as recovery took hold. But now…