Word: portfolios
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...which offers life, health and disability insurance, holds just over $1 billion in tobacco investments. In an e-mail to TIME, however, Sun Life spokesman Michel Leduc called this number "categorically incorrect." Although he would not disclose specific holdings, Leduc said that of the company's $100 billion investment portfolio, less than 0.005% was exposure to tobacco stocks. "Sun Life's investments in renewable-energy projects are over $1.2 billion. We also invested about $1 billion in the last three years to help build or renovate about 20 hospitals and long-term-care facilities," Leduc added. "Together, these two categories...
...began plummeting—Mendillo has no shortage of experience managing the University’s endowment. She spent 15 years at HMC working on nearly every asset class before embarking on her Wellesley hiatus, where she built the school’s investment office and re-engineered its portfolio. “Wellesley’s in a very good position thanks to Jane’s work,” says Deborah F. Kuenstner, Wellesley’s current chief investment officer. “She’s very good at thinking about the endowment...
...hunger strike in the spring of 1983 coincided with a meeting of the Advisory Committee on Shareholder Responsibility (ACSR), comprised of students, faculty and alumni. The Harvard Corporation—the University’s governing body—controls Harvard’s investment portfolio, while the ACSR makes nonbinding recommendations to the Corporation on ethical questions concerning Harvard’s investment policies...
...greater threat to investors springs from the fact that Wells Fargo's loan losses could exceed the government's expectations. In calculating the stress tests, government bank examiners applied different loan-loss rates for different banks. For instance, bank examiners were relatively tough on Wells' primary mortgage-loan portfolio, predicting that nearly 12% of the loans would default over the next two years. This compares to an estimated loss for Citigroup of just 8% for its primary mortgage loans. That makes sense. More of Wells' mortgage loans are concentrated in California than Citigroup. And California has had more foreclosures than...
...much as 12%. Some economists think it will be even worse than the government thinks. New York University economist Nouriel Roubini estimates that as much as 17% of commercial real estate loans could eventually go unpaid. Regulators wouldn't say why the government predicted that Wells' commercial loan portfolio would perform better than other banks. But if it doesn't, Wells' bottom-line losses could be a big negative surprise. If Roubini's estimates are right, Wells could have an additional $19 billion in commercial loan losses...