Investment Firm Pays $2.5M to Settle Allegations It Defrauded Madoff Victim Fund
Austin-based Fulcrum bought recovery rights from Madoff victims, then required them to conceal the proceeds to inflate the payments.
News Archive: Oct - 2023
Regulation
California Law Aims for More Equitable Distribution of VC Funding
SB 54 will take effect in March 2025 and will require annual diversity reporting, with a goal of increasing the capital available to venture capital firms owned by women and minorities.
Market Moves
Why Hamas Attack Might Not Slam Stocks Too Much
Expect higher oil prices, but these likely will not be crippling, strategists say.
Newsmakers
LA County Pension Seeks Senior Investment Officer for Real Estate
The $77 billion pension fund is also looking to hire an investment officer for corporate governance and stewardship.
Asset Allocation
MIT Endowment Return Dips 2.9% in Fiscal 2023
Although the endowment posted negative returns for a second year in a row, the funded status of its defined benefit pension plan improved.
Pensions
US Corporate Pension Funding Rises Slightly in September
Funding status rebounded from a loss in August.
Market Moves
Elevated Stock Valuations Will Not Stay High for Long, Says Market Sage
Price/earnings multiples will fall amid little-appreciated economic weaknesses, per economist David Rosenberg.
Alternatives
Brookfield Raises $12B for Private Equity Program
Brookfield Capital Partners VI is the largest private equity fund in the firm’s history.
Risk
A Miasma of Uncertainty Grips Investors
Washington dysfunction, fear of the Fed and a host of other anxieties haunt the markets.
Asset Allocation
Equity Gains Buoy Ohio School Employees’ 7.4% Return in Fiscal 2023
The School Employees Retirement System of Ohio topped its benchmark and raised its asset value to $17.8 billion.
Newsmakers
GuideStone Financial CIO David Spika to Retire at End of Year
Public investments director Brandon Pizzurro will succeed Spika to oversee the faith-based firm’s $20.2 billion in AUM.
Newsmakers
University of Minnesota CIO Stuart Mason to Retire in Early 2024
Mason has served as CIO for 21 years, and a selection process for his successor is underway.
Asset Allocation
Congress Looks to Cut Deficits Amid High Interest Rates
High U.S. debt-to-GDP ratio and political uncertainty are among factors driving 10-year Treasury yields to 16-year highs.
Risk
CFA Institute Systemic Risk Council Adds 3 New Members
The policy and regulatory reform advocacy group expands to 19 with new experts from Germany, France, and the US.
Asset Allocation
For Energy Transition Investing, Allocators Eye Private Assets
They provide diversification, and use of them will grow, a Schroders survey finds.