News

 

Avoiding funds of funds, the New York State Common Retirement Fund is increasing its allocation to hedge funds in hopes of excess returns.

 

With poor returns and liquidity issues, endowments—heavily reliant on private equity in the past—say they will lower allocations to this alternative asset class.

 

State Comptroller Thomas DiNapoli is questioning whether the move is allowed under the state’s constitution.

 

The actions would ban underfunded plans from taking employer holidays, among other proposed reforms.

 

Russell Read, the fund’s CIO from 2006 until 2008, defends moves he and the fund made into commodities, emerging markets, and private equity.

 

America’s third largest endowment will make cuts more quickly than many of its peers in hopes of returning to growth sooner.

Any media executive who doesn’t “get” The Curse of the Mogul—or anyone who doesn’t think it will be a long term bestseller—proves the point that authors Jonathan A. Knee, Bruce C. Greenwald, and Ava Seave are making throughout the

 

The director of global research at America’s seventh largest public pension is predicting that many of his peers will turn to gold to hedge against currency devaluation and inflation.

The bank is accused of inflating prices on foreign exchange trades for CalPERS and CalSTRS, two of the largest pension funds in America.

 

Dark pools, often a place for institutional investors to trade anonymously in large quantities, are now under pressure from the SEC.

 

The United States and United Kingdom received only middling grades, with Japan and its massive defined benefit system coming in last.

 

A likely result of weak fundraising, venture capital firms are doing smaller—but not fewer—deals than in Q2.

 

Although still relatively small compared to total global stock market capitalization, SWFs are becoming more prevalent equity investors. A lack of compliance with the Santiago Principles, however, may stoke fears in some economies.

 

Following in the footsteps of Harvard and others, Rice has established the Rice Management Co., which will look after the school’s $3.6 billion endowment.

 

Following scandal at New York’s Common Fund and CalPERS, former Chairman Arthur Levitt is calling on President Obama to launch a countrywide investigation into middlemen and public pension funds.