Word: pension
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...part of this escalating war by other means, former Israeli prime minister Benjamin Netanyahu recently visited the U.S. and met with representatives of U.S. pension funds, whom Netanyahu encouraged to stop investing in any company that does business with Iran. One session with the state treasurer of Massachusetts and pension representatives from Rhode Island as well as New Hampshire legislators could lead to concrete steps in the next few months, sources tell TIME. "I'm generally opposed to bringing politics into investing, but former prime minister Netanyahu gave an impassioned plea as to how divestiture could be successful...
...Netanyahu's session with Cahill, a Democrat, was arranged with help from former Massachusetts governor and Republican presidential candidate Mitt Romney, who himself has recently visited Israel. Netanyahu has also said he plans to meet with governor Arnold Schwarzenegger of California, a state that has huge pension funds, including the influential Public Employees Retirement System, or Calpers, worth some $225 billion...
...part of a still small but growing U.S. finance trend known as "terror-free investing." Modeled in part on the economic boycott of apartheid-era South Africa, "terror-free investing" is designed to isolate countries on the U.S. terrorism list like Iran, Sudan and North Korea by purging U.S. pension funds of the stock of any company that might do business with such regimes. The state of Missouri has gotten its multibillion-dollar Missouri State Employees Retirement System screened to remove what it regards as terror-related investments, with counsel from State Street Global Advisors as well as the Washington...
Today Thorp's progeny are everywhere, catering not just to rich people but also to pension funds and college endowments--and to not-so-rich people through listed hedge-fund stocks and hedgelike mutual funds. Thorp's was not the first hedge fund, and the term now covers all manner of investment beasts. But the approach he pioneered accounts for the bulk of the $1.43 trillion that Chicago-based Hedge Fund Research says hedge funds had under management at the end of the year. That's still puny compared with the $20 trillion in mutual funds worldwide. But because most...
Even this, the ice scenario, is bad news for the many pension funds that are only now plunging into hedge funds. Top hedge funds are often closed to new investors, meaning that newcomers are apt to get worse-than-mediocre performance while still paying 1% or 2% of assets and 20% of the profits to the managers. There is a cheaper alternative: just as Vanguard launched the first stock-index mutual fund in 1976, Wall Street firms are beginning to offer low-cost funds that mimic common hedge-fund strategies. The first get-together of this nascent "hedge-fund replication...