Latest News

Casey Quirk: Money management industry likely to see M&A uptick

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The money management industry is likely to experience strong mergers and acquisition activity from 2017 to 2020, a survey shows.
Moody's lowers China local/foreign currency issuer ratings to A1

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Moody's downgrades China's long-term currency issuer ratings a notch to A1, citing anticipated gradual erosion of China' credit profile.
Trump's budget raises PBGC multiemployer premiums, hits federal employee benefits

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President Donald Trump's proposed budget for fiscal year 2018 released Tuesday calls for cuts in federal employee retirement benefits.

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Molly A. Murphy will join the $14.2 billion Orange County Employees Retirement System, Santa Ana, as chief investment officer on June 23.
Mnuchin fills top jobs at Treasury by avoiding Senate scrutiny

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Treasury Secretary Steven Mnuchin is trying to fill a leadership vacuum in his department by increasingly recruiting executives without Senate confirmation.
Kentucky pension shortfall balloons under convergence of factors — report

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Kentucky’s unfunded pension liabilities totaled $33 billion as of June 30, up $26 billion from roughly a decade ago.
Morningstar: Fees lower than ever due to investors choosing different funds

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Investors on average paid lower fees in 2016 than ever before, according to a study of U.S. funds published by Morningstar.
Charles Schwab shareholders approve proxy access

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Charles Schwab Corp. shareholders approved a pension fund-led proxy access proposal that would allow shareholders to nominate company directors.

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Michael Mauboussin will join credit specialist BlueMountain Capital Management as director of research in July.
New York State Common returns 11.42% for fiscal year

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New York State Common Retirement Fund, Albany, returned 11.42% for the fiscal year ended March 31.
Sears secures annuity buyout with MetLife covering $515 million in pension liabilities

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Sears Holdings Corp. purchased a group annuity contract from MetLife to transfer about $515 million in U.S. DB liabilities.

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Tony Persson was named acting head of asset management at Swedish occupational pension provider Alecta.
Fiduciary rule set for June deployment

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A new fiduciary rule will take effect June 9 as scheduled, with full implementation by Jan. 1, the Department of Labor said late Monday.

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Daniel Ingram was named vice president of responsible investment research and consulting at Wilshire Consulting.
Saudi Arabia's Public Investment Fund pledges $20 billion to Blackstone for infrastructure

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Public Investment Fund, Riyadh, Saudi Arabia, signs a memorandum of understanding with Blackstone Group to commit $20 billion to a new infrastructure strategy.