The international newspaper of money management January 7, 2009
Today's News
Job-cut news sends U.S. stocks falling
Posted: January 7, 11:32 AM
U.S. stocks plunged today on evidence the labor market is deteriorating more than expected, a poor omen ahead of the government’s employment report for December.
REIT indexes plunge nearly 40%
Posted: January 7, 5:20 PM
REIT performance was down almost 40% in 2008, based on FTSE NAREIT index returns.
30% of Boston Co. Asset staff laid off
Posted: January 7, 1:05 PM
Boston Co. Asset Management laid off 89 of its 305 employees in response to “unprecedented” market declines.
More than $1 billion lost by Virginia endowment
Posted: January 7, 4:01 PM
University of Virginia Endowment Fund, Charlottesville, lost 24%, or $1.3 billion, in the five months ended Nov. 30.
Chamber says $420 billion stimulus needed
Posted: January 7, 3:11 PM
The U.S. Chamber of Commerce is recommending a $420 billion federal economic stimulus package, or 3% of the U.S. economy’s $14 trillion GDP.
S&P 1500 DB plans see record deficits
Posted: January 7, 1:45 PM
Defined benefit plans sponsored by S&P 1500 companies had a cumulative deficit of $409 billion as of Dec. 31, according to estimates by Mercer.
The plans lost an estimated $469 billion for the...
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PI Events
P&I East Coast Defined Contribution Conference
February 8-10, 2009
We invite you to join us as we explore cutting edge ideas to help stabilize DC plans and ensure plan participants are prepared for, and can enjoy, a secure retirement.
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The Outlook: Money Manager M&A in 2009
January 19, 2009 - 2:00 pm Eastern
The recent record-setting pace of money management M&A was derailed by the market implosion of 2008, leaving money managers playing defense and buyers - both financial and strategic - struggling to value potential acquisition targets in a market where benchmark indexes have moved 10% in a single day.
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Miscalculating risk in housing, credit
Five leading investment experts and thinkers to discuss how institutional investors — when it came to risk management — took their eye off the ball, even after the tech-stock bubble burst in the early part of the decade.
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Investment Outlook
December 2008
PIMCO CIO Bill Gross says among other things, investors must get used to more regulation, lower leverage and higher taxes. As such, better to own corporate bonds than corporate stocks. Read more
More Investment Outlooks
Today s Markets
Headcount Headache
An interactive look at U.S. public money manager employees and announced layoffs
Now On PIonline
- New Forecast: Sunny Despite the upheaval in the financial industry over the last 12 months, money managers around the world remained surprisingly optimistic about their business, according to a new survey. Posted: January 7, 10:45 AM
- Lone star indeed With a gain of 2.7%, the Texas Municipal Retirement System was the only one of the 200 largest plans in the U.S. that showed an increase in assets in the 12 months ended Sept. 30. Posted: January 6, 2:05 PM
- Top 10, top down Miller Tabak's chief bond guru, Tony Crescenzi, offers his top 10 investment idea list for 2009 to give investors themes they can act on. Posted: January 5, 3:33 PM
- Pension hit Tough times lie ahead for U.K. corporate pension plans, leading many to rethink asset allocations or look to non-cash contributions to shore up deficits at a time when many plan sponsors themselves will be strapped for cash. Posted: January 5, 1:02 PM
- New landscape The market turmoil might be a blessing in disguise for the world’s largest exchanges, as they are enticed to create new listings or absorb smaller competitors, according to a new report. Posted: January 2, 12:01 AM
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Highlights |
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Regulatory jeopardy?Three key defined contribution proposed regulations could be in jeopardy because the Department of Labor failed to win White House approval far enough ahead of the change in presidential administrations. Read more |
Blocking BernieBernie Madoff stood little chance of luring U.S institutions into his alleged $50 billion Ponzi scheme because elite U.S. hedge fund-of-funds managers stood solidly in the way. Read more |
Port my alphaSome institutional investors are ending their portable alpha programs and others are scaling back as a painful year in the markets winds down. Read more |
Size mattersThe financial debacles that have roiled markets this year have put an unprecedented emphasis on counterparty risk, and money managers like Metropolitan West's Tad Rivelle believe the best-capitalized brokerage firms will gain the most business. Read more |
In the houseOfficials from some of the top pension funds globally are ramping up their internal absolute-return capabilities. Read more |
Bright starBy not straying from her core investment philosophy that bonds are the anchor for a portfolio, Christina Seix, founder of the fixed income shop that bears her name, suffered a bit in 2005 and 2006 but in today’s climate, she’s shining bright. Read more |
Cash backAfter years of sprucing up their portfolios with exotic allocations like portable alpha and infrastructure, institutional investors are making room for a more mundane addition: cash. Read more |