Regulation
PBGC Clarifies ‘Return Seeking’ and ‘Investment Grade’ for SFA Purposes
Reacting to some confusion about the terms’ precise meanings, the PBGC clarified and provided examples of both.
News Archive: Jul - 2023
Asset Allocation
Public Pension Funds Continue to Boost Alts Allocations in Search of Higher Returns
The Equable Institute’s State of Pensions 2023 report claims that ‘pension funds are addicted to risk.’
Newsmakers
AFL-CIO Investment Vehicle Names New President
Monte Tarbox, the veteran union pension fund leader, succeeds Randy Kinder at the AFL-CIO Investment Trust Corp.
Regulation
House Republicans Propose 11 Bills Reforming Proxy Advisory Services
The bills would make it substantially easier for issuers to exclude proposals and harder for the SEC to compel them to include proposals on proxy statements.
Asset Allocation
Where ESG-Minded Investors Should Put Their Money
Despite a harsh political climate for the concept, a CIO webinar of experts offers some smart insights.
Corporate Moves
Hamilton Lane Names New CFO in Leadership Shuffle
Revamp taps three other executives for new roles and follows elevation of Andrea Kramer to chief operating officer in May.
Corporate Moves
Abrdn Sells US Private Markets Business to HighVista Strategies
The Scottish investment giant will transfer $4 billion in AUM and 30 employees to the Boston-based alts manager.
Regulation
SEC Chair Gensler Says Crypto Is ‘Rife With Fraud’
The comments come as the SEC reviews applications for six Bitcoin ETFs.
Asset Allocation
CalPERS Reports Preliminary 5.8% Return for Fiscal 2023
Public equities and private debt were the top performers for the fund’s $462.8 billion portfolio.
Newsmakers
Lagging Governmental Commitment to Reduce Inequality Must Be Acted Upon, Top Economists Say
Group assembled by Nobel winner Stiglitz chides governments for ignoring pledge they signed to fight global poverty.
Pensions
Illinois Teachers’ Pension Seeks Diversifying Strategies Consultant
The Illinois TRS is also looking to hire a new investment officer and plans to open a Chicago office.
Regulation
Changes to Pension Risk Transfer Rules Might Be Coming
The ERISA Advisory Council met this week to discuss possible changes to IB 95-1, which outlines how fiduciaries should select an annuity provider.
Market Moves
Projections of an Earnings Upsurge Are Too Rosy, BlackRock Warns
Big tech mega caps skew the profits picture, and stripping them out makes the outlook flat.
Asset Allocation
Fixed Income Makes a Comeback in Sovereign Wealth Fund Portfolios
But the institutional investors revamped their approach to the asset class after it failed to protect them when equities tanked in 2022.
Manager Selection
Church Pension Group Names Michael Hood CIO
Roger Sayler is retiring after nine years with the Episcopal Church’s investment manager.