Pensions
CalPERS Rejects Reinvesting in Tobacco Again
Pension plan’s investment committee votes down a second attempt from member Jason Perez to reverse its 20-year-old ban.
News Archive: Mar - 2021
Market Moves
Follow-Up: Doomster Grantham’s Stock Picks Are Doing Pretty Well
This noted market pessimist said in January that some shares would thrive, despite a popped bubble.
Asset Management Culture
Controversy Still Follows CalPERS’ CIO Resignation
More than a half-year after Ben Meng resigned, a lawsuit and pending pension system policy decisions are bringing his departure back into the limelight.
Market Moves
Ned Davis: Tech Titans Could Fall 20% This Year
If Treasury yields keep rising, and the 10-year Treasury hits 2%, it’s bad news for the Nasdaq 100, the research firm warns.
Manager Selection
Nest Commits $350 Million to Octopus Renewables for Green Infrastructure
‘We want to invest in the energy of the future, not the past,’ says CIO Mark Fawcett.
Risk
Cryptocurrency Firm Co-Founder Gets 8-Year Prison Sentence for ICO Fraud
Sohrab ‘Sam’ Sharma was also ordered to forfeit more than $36 million.
Market Moves
Will Pent-Up Consumer Demand Really Supercharge the Economy? Uh-uh, Economist Warns
Stephen Roach: A lot of consumer spending already has occurred and the federal aid package will be just a temporary boost.
Risk
McAfee Indicted for Fraud, Money Laundering Conspiracy Crimes
Former software firm founder could spend the rest of his life behind bars if convicted.
Asset Management Culture
PNC Asset Management Names Amanda Agati CIO
Agati succeeds Mark McGlone, who is retiring April 9.
Regulation
SEC Charges Seven in $45 Million Pump and Dump Scheme
Kelly Kabilafkas allegedly promoted shares in Airborne Wireless Network, then dumped the stock.
CIOs to Speak on Survival of the Fittest, the K-Shaped Recovery, Private Equity, and Private Credit March 16 and 17
Register now to attend four not-to-miss panels.
Regulation
DOL Will Not Enforce Final Rules on ESG, Proxy Voting
The federal agency will revisit the disputed regulations, enacted in the final days of the Trump administration.
Coronavirus - COVID-19
Vaccine Elation Will Lead to the Market’s Fall, BofA Sage Warns
The S&P 500’s happy days are numbered, with investors blind to Washington overreach, says Michael Hartnett.
Corporate Moves
UN’s Herman Bril Named Arabesque CEO of Asset Management
After serving as the CIO of the United Nations Joint Staff Pension Fund since 2016, he takes the helm of the UK asset manager in July.
Pensions
COLA Freeze Removed from Pension Bailout Plan
American Rescue Plan Act amendment from Chuck Schumer removes cost-of-living adjustment freeze.