Asset Allocation
Who Will Be Long-Term Post-Pandemic Investment Winners?
Companies that achieved tech advantages (such as Microsoft) and pricing power (John Deere) will triumph, says JPM’s Jared Gross.
News Archive: Jun - 2023
Risk
CalPERS, CalSTRS, Genworth Among Those Affected by MOVEit Data Breach
Third-party vendor PBI Research Services is blamed for not initially revealing the scope of the hack.
Newsmakers
Samantha DeZur Promoted to Head of BlackRock US Public Policy Unit
The asset manager overhauls the leadership of its federal and state policy advocacy group.
Research
AI Investment Is Booming—What Happens When It Flags?
With tighter regulation on the way and the potential for firms to feign artificial intelligence influence, SocGen recommends a diverse approach.
Newsmakers
New York Common Signs Political Disclosure Agreements With 7 Firms
State Comptroller Thomas DiNapoli warns that firms ‘that engage in political spending risk damaging their reputations.’
Regulation
PBGC Adjusts Quarterly, Monthly Interest Rates
Interest rates for late payment liability, ERISA 4044 annuity discount rates and variable rate premiums have been adjusted, the PBGC announced.
Manager Selection
MetLife CIO Steven Goulart to Retire in August
The firm has a mandatory age-65 retirement policy, although it has been waived in the past; several corresponding promotions were also announced.
Manager Selection
New Nest CIO Elizabeth Fernando Plans Steady-as-We-Go Strategy
Move into alts, doubts about emerging markets, and criticism of Shell highlight the pension program’s direction.
Regulation
Barr Introduces Another Anti-ESG Bill in House
Mirroring language from Trump-era rules, the Ensuring Sound Guidance Act would require that only pecuniary factors be considered by fiduciaries in investment decisions.
Asset Management Culture
Norges Bank Will Study How Psychological Safety Can Improve Performance
The $1.4 trillion pension fund manager’s two-year research project will also investigate how resilience and sport psychology can boost results.
Asset Management Culture
Tech’s Toughest Cuts Could Draw New Talent to Asset Management
Asset managers are eyeing thousands of workers laid off by the tech industry as asset management firms build out their own capabilities.
Manager Selection
Legislation Requiring Diversity Disclosures Introduced in House
The Improving Corporate Governance Through Diversity Act would require issuers to disclose information on diversity at the director and executive levels.
Manager Selection
Sweden’s AP7 Hires Head of Asset Management
Lena Fahlén will leave Handelsbanken after more than 20 years to join AP7 in September.
Asset Allocation
Get Ready for US Manufacturing Supercycle, BofA’s Quinlan Trumpets
Foreign investment is surging into American industrial construction, according to the strategist.
Pensions
Michigan State University Endowment Buys Majority Stake in Detroit Landmark
The university is paying $21 million for 79% of the 95-year-old Fisher Building.