A Simple Theory of the Financial Crisis; or, Why Fischer Black Still Matters

Tyler CowenIn this month’s Financial Analysts Journal, Tyler Cowen professor of economics at George Mason University, Virginia makes sense of the current financial crisis by drawing on some of Fischer Black’s ideas.

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AIMCo splits top job, beefs up investment team

The C$69 billion ($66 billion) Alberta Investment Management Corporation (AIMCo) will split its chief executive and chief investment officer roles, with Leo de Bever retaining the chief executive position, while a search is underway for a new CIO. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

…while Ministry of Finance dictates new guidelines for responsible investing

Norges Bank, the manager of the $456.4 billion (NOK 2,549 billion) Government Pension Fund Global, will integrate considerations of good corporate governance and environmental and social issues into its investment activities under an ambitious new requirement set out by the Ministry of Finance. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Timber the next new thing for Aussie sovereign fund

The A$66 billion ($58 billion) Australian sovereign wealth fund, the Future Fund, is doubling its allocation to “tangible assets” and will soon make its first allocation to the timberland sub-asset class. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Manager shakeup at Norway’s SWF as real estate approved…

A shakeup of service providers is expected at Norway’s $456.4 billion (NOK 2,549 billion) Government Pension Fund Global, as the sovereign wealth fund gains approval to invest up to 5 per cent in real estate, at the expense of bonds, at the same time it looks to fill equities mandates in 21 different regions and

Private sector reform needed for US public funds: report

US public sector pension funds will have to take a radical private-enterprise approach to reforming employee benefits and revising investment expectations if funds are to fulfil their obligations to existing and new employees. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Towers Watson changes the guard

Roger Urwin has stepped down from his position as head of Towers Watson’s think tank, the “thinking ahead group”, to take up a two-day a week advisory position at MSCI Barra. He will continue in his role as head of global investment content at Towers Watson. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

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