Pennsylvania PSERS Hires Verus Investments in Emergency Move institutionalinvestor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from institutionalinvestor.com Daily Mail and Mail on Sunday newspapers.
PennPSERS taps Verus for oversight consulting services amid probe
PennPSERS taps Verus for oversight consulting services amid probe
Verus Investments to provide interim investment oversight consulting services, while the $64.2 billion pension system is under both internal and federal investigations. The purpose of the contract is to provide additional advisory capability as we navigate additional work as a result of the special investigation that the audit committee is overseeing, said Frank Ryan, chairman of the PennPSERS audit committee, in a statement. Mr. Ryan added that no personnel changes have been made whatsoever at PennPSERS.
On April 8, PennPSERS confirmed that a federal investigation had been launched into the state pension plan after the board had discovered an error in its reported investment figures.
Historical analysis suggests portfolios of certain quant hedge fund strategies may offset some of the risk of rising interest rates
Historical analysis suggests portfolios of certain quant hedge fund strategies may offset some of the risk of rising interest rates
A persistent low-rate environment has challenged the safe-haven status of fixed income that for decades served as a reliable hedge to equities, while consistently generating attractive returns. In today’s environment, an increase of just 0.2% in interest rates, a move that is smaller than the smallest increment considered by the US Federal Reserve, will wipe out an investor’s entire year of corporate bond gains.