Florida State Board of Administration terminated four core-plus fixed-income managers that ran a combined $9.4 billion, and moved the assets to internal passive management.
In corporate governance, it's too bad Amalgamated Bank doesn't practice what it preaches in seeking greater accountability of boards of directors.
Long-term bonds were again the top-performing bond strategies in the fourth quarter as a worsening economic environment gave advantages to investors in those strategies for the year ended Dec. 31.
Institutional investors are fleeing to the relative safety of stock index funds, shunning active managers, according to managers and consultants. But whether the shift to passive will last is questionable.
Enhanced indexed assets managed on behalf of U.S. institutional tax-exempt investors fell nearly 20% in the first half of the year, according to data collected by Pensions & Investments.