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News Archive: Aug - 2019
CalPERS Heads Toward Restructuring Investment Committee
Board’s governance committee gave first approval Tuesday night to a plan that reduces the size of the investment committee and the number of meetings.
Market Moves
Blame the Computers for Last Week’s Market Wipeout
So says JP Morgan’s trading honcho, Marko Kolanovic, who thinks more than half the moves were due to algos.
Risk
CPP Fund Returns 1.1% in Q1 of Fiscal 2020
Canadian pension giant earned three- and five-year annualized returns of 10.5%.
US Corporate DB Pension Funding Falls $11 Billion in July
Funded rate of 100 largest DB corporate plans drops to 87.9% during month.
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Major Restructuring of CalPERS Investment Committee Could Become a Reality
A plan would reduce investment committee members and the number of meetings. It is being objected to by at least one board member.
Newsmakers
Exclusive: New Mexico ERB CIO Jacksha Is Worried About the Trade War
The $13.3 billion fund’s chief has very large portion of the portfolio in alts, as a buffer against bad times.
UK DB Plans’ Deficit Widens to £90.7 billion in July
Funding level falls to 95% from 97%.
Risk
Texas Pension Returns Nearly 10% in First Half of 2019
Investment portfolio gains 3.2% in Q2 to reach $31.9 billion in assets.
CalPERS Board Member Wants Internal Investigation into Leaks Made Public
Margaret Brown says she is not the one leaking information to the press about confidential CalPERS matters.
Risk
New Mexico ERB Beats Peers, Logging a 7.29% Return
Alternatives, US stocks, and bonds help fund value achieve new ‘high water mark.’
Corporate Moves
Arizona Blue Cross Blue Shield’s NextGen Nabs Job with Family Office
Terence Thompson’s financial career started in the Air Force.
Market Moves
US Negative Interest Rates Would Be a Disaster, El-Erian Warns
Allianz economist notes decline of yields and worries they might crop up in America.
Multiemployer Pension Lifeboat Sinking Fast
PBGC multiemployer program is expected to run out of money in six years.