In today’s newsletter, we give both sides a chance to have a say in the debate
Oil major is persisting with legal action against activists even after their emissions cutting resolution was dropped
US public pension plan says it will look at real estate, private equity and infrastructure
Calpers concerned oil supermajor is seeking to muzzle activist shareholders
Stephen Gilmore’s appointment ends a seven-month vacancy at the largest US public pension plan
Happy Gilmore
Past performance does not guarantee . . .
Decision to raise allocation to private equity and other assets comes after fund missed out on up to $18bn of returns
Largest US pension fund says dates of birth and social security numbers compromised
Portfolio shake-up for biggest US public pension scheme aims to make up for ‘lost decade’ of returns
Biggest US public pension fund to begin extensive review of its $52bn of assets in the sector
Biggest US public pension plan missed out on almost a decade of returns by being too conservative
PE appears to be a superior model with greater ability to ride out choppy cycles
Largest US pension plan says traditional diversification strategies proved ‘less effective’
Nicole Musicco appointed as $478bn fund manager deepens push into private markets
US pension fund to lift private equity and debt allocations over concern public markets are ‘a little overheated’
And crypto as instrument of revolution
Activists attack influential investor group for voting against calls for deeper emissions cuts at oil company
Just 17% of retirement schemes in North America committed to net zero emissions by 2050
Allowing public markets to wither could worsen wealth inequality and dent public acceptance of capitalism
Departure of Ben Meng from Calpers is unlikely to trigger a scramble to replace him
Big investors demand groups follow BP’s example and consider global warming risk in financial statements
Ben Meng spearheaded a bold overhaul of much of $400bn fund’s investment portfolio
Ben Meng departs US’s top public pension fund after allegations of incomplete public disclosures
Departure of CIO does nothing to help fix group’s massive pension funding hole