The Alberta Investment Management Corporation (AIMCo) — the province’s government-owned pension management fund — confirmed Thursday in a letter from the pension manager’s CEO that losses from a bet on market volatility have led to a loss of $2.1 billion.
The economic devastation from the coronavirus pandemic already is estimated to top $1.7 billion at the Big Ten universities, which include some of the nation’s leading public research institutions.
The Treasury secretary ordered elite schools with “significant endowments” to return loans intended to help small businesses pay employees during the coronavirus pandemic. Some are resisting.
Struggling companies desperate for cash during the coronavirus crisis are raising money in a way that hasn’t been this widely used since the 2008 recession: selling bonds that can convert into stocks.
T. Rowe Price Group Inc. profits fell by 33% in the first quarter as the Covid-19 pandemic swept across the world, disrupting economies and causing a massive selloff in the stock market.
The recent stock market downturn resulted in about a $6 million hit to the Longview Firefighters’ Relief and Retirement Fund. However, about one-third of those losses were restored by March 31, fund trustees’ Chairman Kolby Beckham said.