President Barack Obama's lifting of some economic sanctions on Iran has triggered reviews by public pension funds and specialty consulting firms on prohibitions on investing with companies doing business in the country.
The Teachers' Retirement System of the State of Illinois, Springfield, more than doubled the hedge fund-of-funds assets managed by Grosvenor Capital Management LLC to $998 million, terminating K2 Advisors LLC.
Consolidation among alternative fund administrators is expected to continue over the next several years, which sources say will mean higher costs for asset owners in the short term. But some say in the long run, costs could decrease.
The Department of Labor's intervention seeking a U.S. Supreme Court hearing on the responsibilities of fiduciaries concerning company stock as an investment option in defined contribution plans might lead to better guidance on a long-standing exception to the diversification rules of the Employee Retirement Income Security Act.