Table of Contents

Issue Date: Monday, September 15, 2014

News

Hedge fund assets up 15% on big inflows, strong returns

Hedge fund assets up 15% on big inflows, strong returns

A combination of solid performance and broad-based inflows pushed asset growth of hedge fund and hedge funds-of-funds managers well into positive territory for the second consecutive year.

Move to passive likely to build still more steam

Move to passive likely to build still more steam

Active money managers could become victims of their own success at identifying mispriced securities.

Public pension funds play supporting roles in state elections

Public pension funds play supporting roles in state elections

Public pension plans are being hit with a mixture of ethics complaints, ballot initiatives and election contests, with candidates using pension reform as an appeal to voters.

Good returns ease public pension fund fears as GASB changes take hold

Good returns ease public pension fund fears as GASB changes take hold

The first batch of public pension fund financial reports under new accounting standards will be out this fall, and after a bumpy adjustment period, the preliminary results so far are good — or at least not as bad as expected.

Smart beta might not live up to its promises

Smart beta might not live up to its promises

Smart beta strategies can fail to live up to their promised outcomes in performance, diversification and stability, according to some in the investment management industry, challenging perceptions to an increasingly popular alternative to passive market-capitalization-weighted indexes.

'Fundless sponsor' deals gaining in private equity

'Fundless sponsor' deals gaining in private equity

A growing number of private equity executives without capital of their own to invest are finding deals and shopping them to other private equity firms.

Big buyout firms are returning to  middle market

Big buyout firms are returning to middle market

Carlyle Group executives are investing in the private equity middle market as a way to take advantage of what they say is a credit bubble, and the giant firm has lots of company.

Shift to passive may not signal prospects for alpha

The dearth of alpha on tap today — the result of a critical mass of smart, motivated people dedicating their lives to stock picking — should persist even if a wave of passive investing were to sweep a healthy chunk of those people out to sea, two experts say.

SEC rule could push trading costs higher

SEC rule could push trading costs higher

The Securities and Exchange Commission's latest salvo in the war against market instability could mean higher trading fees for money managers and some smaller equity trading venues curtailing operations or shutting down completely.

Thornburg's international equity assets drop

Thornburg's international equity assets drop

A portfolio manager realignment at Thornburg Investment Management to shore up performance in the firm's international value equity institutional strategy and mutual fund has fueled a substantial client exodus.

Uncertainty reigning prior to Scottish vote

Uncertainty reigning prior to Scottish vote

Money managers, consultants and investors are for the first time being forced to take seriously the potential for a breakup of the United Kingdom.

Deadline nearing for 2015 Eddy Awards

Deadline nearing for 2015 Eddy Awards

The deadline for the annual Eddy Awards, sponsored by Pensions & Investments, is only one month away.

Gotbaum reflects on accomplishments, challenges

Gotbaum reflects on accomplishments, challenges

Despite gains, PBGC still is grappling with multiemployer woes.

P&I hires general manager for digital

P&I hires general manager for digital

Mark Goodrich has joined Pensions & Investments as general manager for digital business, responsible for the strategy and growth of P&I's digital business and product development.

Bahl & Gaynor executive played major role in institutional push

Matthew D. McCormick, vice president, principal and portfolio manager at Bahl & Gaynor Investment Counsel Inc., played a big part in projecting the firm to institutional investors nationwide.

Special Report

The state of hedge funds: 2014

Hedge fund assets increased 15.4% to $1.5 trillion in the 12 months ended June 30, the results of Pensions & Investments' annual survey showed. That compares with a 15.2% rate of growth in the aggregate assets in the 2013 survey.

Special report on Indexing: 2014

BlackRock keeps lead; Vanguard's 33% hike moves it past SSgA into 2nd place.

Features

Deadline nearing for 2015 Eddy Awards

Deadline nearing for 2015 Eddy Awards

The deadline for the annual Eddy Awards, sponsored by Pensions & Investments, is only one month away.

Frontlines

Editorial

A vital SEC crucial to markets

A vital SEC crucial to markets

The Securities and Exchange Commission, according to testimony by its chairwoman, Mary Jo White, is desperately short of resources and cannot adequately fulfill its responsibility to oversee the capital markets.

Letters to the Editor

Department: Portfolio Management

As equity drivers shift, allocations will need to change

As equity drivers shift, allocations will need to change

The stock market's rise from the depths of the financial crisis has been nothing short of spectacular. Those returns, however, are largely owed to the actions of central banks.

People Moves