Imagine your favorite company getting sued for holding too much cash.
I know, that s a big statement. But hear me out.
Corporations, pension funds and insurance companies anyone responsible to stakeholders could one day face class action lawsuits if they don t diversify into other reserves assets. It s not beyond the realm of possibility, especially in today s litigious-happy world.
Michael Saylor famously bought bitcoin last year to diversify and protect the buying power of MicroStrategy s surplus cash…half a billion dollars worth. Elon Musk recently did the same for Tesla, plowing $1.5 billion into bitcoin. Before either of these was Overtstock.com. Remember them?
Corporate funding ratios get a boost in January – 3 reports
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Funding ratios for corporate pension plans inched up in January, according to reports from Wilshire Consulting, Mercer and Northern Trust Asset Management.
Wilshire s monthly report noted that the aggregate funding ratio for U.S. corporate plans increased by 1.7 percentage points to 88.5% as of Jan. 31 from Dec. 31. The monthly change in funding resulted from a 3.5 percentage-point decrease in liability values partially offset by a 1.6 percentage-point decrease in asset values. January s increase in funded ratio was primarily driven by the decrease in liability values as corporate bond yields used to value corporate pension liabilities increased by over 20 basis points, said Ned McGuire, managing director and a member of the investment management and research group of Wilshire Associates, in a news release announcing the results. January s asset value decrease snapped two consecutive monthly increases a
Wilshire Associates Acquisition is Completed, Hires Former CEO of FTSE Russell
Posted on 01/14/2021
New York-based CC Capital is a private investment firm focused on investing in and operating businesses for the long term, and Motive Partners, a private equity firm focused on technology-enabled financial services companies, announced the close of the acquisition of Wilshire Associates, an investment consulting and advisory firm.
The leadership team at Wilshire will be augmented by a number of new executive hires, coordinated by the buyers to drive additional value to clients, including the new Chief Executive Officer, Mark Makepeace, Founder of FTSE International and former Chief Executive Officer of FTSE Russell, the global index provider that he grew from inception to be a leading global player. Andy Stewart, an Industry Partner at Motive Partners, joins as Chief Innovation Officer, having previously co-led BlackRock’s Alternative Investment platform. Jody Kochansky, an Indust