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Senate introduces tax bill, keeps most retirement contributions intact

LEGISLATION

LEGISLATION

Senate Republicans released their proposal for tax reform Thursday.
House Ways and Means approves tax reform package

Legislation

Legislation

The House Ways and Means Committee approved their tax reform proposal Thursday by a 24-16 vote along party lines.
Fortress Investment sees 2.2% AUM drop in quarter excluding Logan Circle sale

Alternatives

Alternatives

Fortress Investment Group earnings down slightly in third quarter and year after Logan Circle Partners sale.
Anchorage Police and Fire lowers assumed rate of return

PENSION FUNDS

PENSION FUNDS

Anchorage (Alaska) Police and Fire Retirement System lowered its assumed rate of return to 7% from 7.7%.
OPTrust to divest from all tobacco-related equity, bond investments by January

ESG

ESG

OPTrust will divest from all tobacco-related equity and fixed-income investments by Jan. 1, 2018.

MONEY MANAGEMENT

MONEY MANAGEMENT

Ram Ramaswamy was named managing director, head of investment solutions for Neuberger Berman's Breton Hill team.
Janus Henderson AUM rises 4.5% in quarter, records net inflows

MONEY MANAGEMENT

MONEY MANAGEMENT

Janus Henderson Group reported $360.5 billion in assets under management as of Sept. 30, up 4.5% from June 30 and up 10.5% from a year earlier.
Greenwich: European investors plan to cut equity research spending by 1% ahead of MiFID II

Regulation

Regulation

European institutional investors plan to cut spending on equity research by 1% in the next 12 months ahead of MiFID II.
Former New York State Common manager admits taking bribes

COURTS

COURTS

A former portfolio manager of the New York State Common Retirement Fund admitted he accepted gifts in exchange for steering state business to brokerages.