There is a groundswell of interest in racial justice among institutional investors as beneficiaries, clients, board members, and staff advocate for investors to take anti-racist action. This article attempts to provide investors who are interested in racial justice with a range of options.
State Comptroller Thomas DiNapoli on Tuesday said investments in the state pension fund showed “one of the strongest rebounds in modern history” after deep losses forced by the COVID-19 virus.
Kuwait’s $112 billion pension fund is looking to more than triple investments in infrastructure as part of its asset-allocation strategy over the next couple of years.
Caisse de Depot et Placement du Quebec posted a 2.3 per cent loss in the first half of 2020 after largely missing the rally in large technology stocks and suffering from its heavy exposure to shopping malls.
First, he was called a Chinese spy. Then he was accused of misleading his board. Yet Ben Meng stayed on as investment chief at California’s mammoth state pension plan. What finally drove him to quit wasn’t only the public pressure, it was a Wall Street sin every rookie in the business knows to avoid: He steered the fund’s money into investments that could benefit him personally.
As manager of the nation’s third-largest pension fund, the task of state Comptroller Thomas DiNapoli seems quite clear-cut: to uphold his fiduciary responsibility to state employees and ensure that they can retire securely.
The largest fund in New Jersey’s embattled pension sold Apple, Microsoft, and GE stock in the second quarter. It also initiated a stake in biotech Moderna.