Pennsylvania PSERS Focused On Increasing Leverage To Reach 'Better-Balanced Portfolio' | Jim Grossman, Chief Investment Officer | Q&A
Jim Grossman is the chief investment officer at the Pennsylvania Public School Employees Retirement System (PA PSERS), where he oversees $59.1 billion of assets. In this interview, he discussed why PSERS prefers a more balanced and diversified portfolio allocation; why using leverage in the portfolio is evolutionary for them; and their measured approach to early-stage venture.
Institutional investors such as public pensions have long locked up their capital in the private equity asset class and will continue to do so as they grow their private book. In today's market, it takes savvy investment talent to scope out the best and hidden investment opportunities. This list highlights 30 astute investors who manage multi-billion-dollar investment portfolios for some of the larger LPs in the U.S. and have built successful portfolios that have stood the test of time.
VANCOUVER, March 20, 2020 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") announces that Puna Operations ("Puna") is temporarily suspending operations in accordance with government-mandated restrictions due to the COVID-19 virus. On March 19, 2020, the government...
The funds are reducing risks and raising cash as the markets dent their investments and conventional wisdom fails. The past few weeks have been a brutal time for hedge fund managers -- whom many regard as some of the savviest investors, and certainly the best paid, in the markets. For the most part, they've done their job by protecting wealthy investors and pension funds from the worst of the stock market sell-off.
Quant funds have been slammed over the last couple of days, with big names like Bridgewater, Schonfeld, and Renaissance taking a hit. Several quant investors told Business Insider that it's worse than 2007, when the infamous "Quant Quake" steamrolled even the most savvy of funds. "Of course we are questioning if we should have done things differently," Bridgewater founder Ray Dalio wrote in a note to investors. Click here for more BI Prime stories. For long-running quant funds, their financial crisis happened in 2007, not 2008.
"Some of the CalPERS investment policies are incredibly concerning," O'Brien said. "We've got folks who are going to rely on their pension for their retirement and putting those investments into companies that don't have GAAP accounting and they don't have the same reporting requirements that American companies do is scary."
"It is a devastating blow to Flybe workers": Pensions of more than 1,300 ex-Flybe staff could be at risk - as the money put aside for retirement isn't in a protected scheme, according to reports. Pension schemes are usually guarded by the Pension Protection Fund, which comes to the rescue when firms go to the wall. But the Mirror reports that Flybe's scheme isn't protected because it is registered in the Isle of Man tax haven.