PIMCO’s Gross Says Fed Exit May Debilitate Markets
The influential bond fund manager, warning of “carefree check writing,” said that with central bank support removed, markets may suffer.
News
Survey: University Endowments Fall 19%
A recent study shows U.S. college and university endowments lost nearly one-fifth of their value in the 2009 fiscal year.
Survey: Nearly 50% of Money Managers Ignore Climate Risks
A new report shows that nearly half of money managers surveyed do not consider climate risks in their investment decisions, considering them financially irrelevant.
Wesleyan Sues Ex-Endowment Chief, Claiming Fraud
For more than eight years, one of the highest paid employees at Wesleyan used university access and funds to make money at other companies and finance family vacations and international recreational trips, the suit alleges.
State Street to Compensate Netherlands Pension Fund for Lehman Loss
State Street Global Advisers (SSgA) has been ordered to pay more than 40 million euros ($58 million) in damages to Stichting Pensioenfonds OPG for investment losses.
Private Equity Expert to Run NYC’s Pension Funds
Larry Schloss has agreed to become the next chief investment officer for New York City.
Ontario Teachers’ Moves into Mortgage Insurance Business
AIG has sold its Canadian mortgage insurance unit to Ontario Teachers' Pension Plan.
Morgan Stanley Accused of Defrauding Investors
In the latest example of pension funds suing financial institutions, a Virgin Islands pension fund has sued Morgan Stanley over CDO sales.
The ai5000 Top Five Institutional Investment Stories of 2009
The Revelation of the Full Extent of American Endowment Problems Entering 2009, the world knew that trouble was afoot at America’s largest endowments. Reports were emerging from Yale, Princeton, Stanford, Harvard, and others as early as September 2008 that
Alaskan Mercer Suit Headed to Trial
(December 23, 2009) – Pension fund consultancy Mercer is headed to trial in Alaska over charges that it underestimated liabilities and then failed to admit theerror to the state’s pension and health plans for public employees. Mercer’s motion to
Survey: American Pensions Shun Risk
(December 23, 2009) – A recent Hewitt survey shows that American pension plans increasingly are looking to step away from risk in many, if not all, of its forms. According to the consultancy’s Global Pension Risk Survey of 153
Private Equity Titan Terminates Fund
(December 23, 2009) – Europe’s Candover has agreed to close its nearly $5 billion buyout fund, a fall from grace for this once mighty private equity house. The firm confirmed late last week that its five year investment window
PIMCO’s Gross Reduces Government Debt Holdings, Moves to Cash
(December 23, 2009) – Bill Gross’s Pacific investment Management Co. (PIMCO), a weathervane for many institutional investors, reportedly has raised its cash holdings to the highest levels since September 2008. According to a report from Bloomberg, PIMCO’s Total Return Fund
With Goldman Lawsuit, Populism Reaches Pension Funds
Financial giant Goldman Sachs has been sued by a $5.8 billion union pension plan over its alleged use of TARP and FDIC-backed funds to pay executive bonuses.
Dubai, Again, Gets Bailout from Abu Dhabi
Not for the first time in 2009, Abu Dhabi—the federal seat of government for the United Arab Emirates—has been forced to step in and provide an injection of funds for a debt-ridden Dubai.