Archive for February, 2010

“BSE members’ experience as bankers and regulators puts the firm “in a good position to win the most desirable bank auctions and recapitalizations,” according to the documents.”
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” Senator Charles E. Grassley of Iowa has asked Goldman Sachs to clarify how much it has collected in underwriting fees as states and cities issue so-called Build America Bonds to raise money for infrastructure projects and create jobs.”
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” Lloyds Banking Group Plc, Britain’s biggest mortgage lender, posted a wider-than-estimated full-year loss as loan writeoffs rose “significantly” in 2009 on the bank’s takeover of HBOS Plc.”
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“Federal Reserve Chairman Ben S. Bernanke renewed his push to keep bank-supervision authority as some senators expressed support and others wavered.”
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” Tactics in California to shore up its municipal bond rating are quite humorous. Supposedly, by delaying payments to schools, California can boost confidence in its bonds”
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“From moviemaking to architecture, the shamed and banished CEOs of the 2008 credit crisis have opted for some unusual career paths, either by choice or necessity.”
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” It’s “Save Your Banker Week.” Make a donation to your friendly bankster today. Call it a donation. Call it a deposit. Call it what you want. FDIC chairwoman Sheila (whose-side-is-she-on?) Bair calls it a way for Americans to invest in their own future by increasing their savings. Her agency has kicked off “America Saves Week.” Well, it’s more like taking a loss while bailing out irresponsible bankers week”
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Fed Chairman Ben Bernanke is one of the best contrarian indicators one could possibly find. Yesterday, Bernanke told the House Financial Services Committee that the U.S. economy is in a “nascent” recovery.

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Pension Fund Allocations Rising

Pension Funds Look to Narrow Gap Using Hedge Funds

Hedge funds are attracting more institutional investors as pension funds try to narrow the gap between benefits and payments.  Many pension funds lost money during the financial crisis through traditional and alternative investments and some pension fund managers are hoping that hedge funds will continue the great performance of 2009 and make up some of that capital. 

Florida’s pension system, the fourth-largest state retirement plan, will decide next week how big to make its first hedge-fund investments as it tries to close a 7 percent benefit-payments deficit.

Executives of the Florida Retirement System, which oversees $112 billion for a million firefighters, teachers and garbage collectors, had been considering the move into the loosely regulated private partnerships since 2007. Wisconsin’s pension also plans its initial allocation this year, while Boeing Co.’s probably will raise its holdings, as retirement funds seek to recoup losses from the financial crisis.

The largest public and private pensions, underfunded by more than $1 trillion, are increasing their hedge-fund bets after a lull at the end of 2008. About 15 percent of U.S. institutions plan to boost their allocations, and 80 percent will keep them steady, according to a survey by SEI Investments Co.

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Tags: Pension Fund Allocations Rising, Pension Fund Allocations, hedge funds and pension funds, hedge funds investments, pension funds investing in hedge funds

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