Ellen Chang – Actuarial News

Excerpt:

The number of pension funds, endowments, and foundations adding Bitcoin to their portfolios has steadily risen over the past couple of years as the digital asset has gained more acceptance as an alternative asset.
Two pension funds in Fairfax, Virginia, began investing in late 2018 and 2019 in blockchain technology and Bitcoin through investments in two Morgan Creek Digital funds, which many consider the first investments in the crypto asset from a US pension fund. And a number of hedge funds, family offices, pension funds, endowments, foundations, asset managers, registered investment advisers (RIAs), and banks own Bitcoin outright through Boston-based Fidelity Digital Assets.
The world’s largest asset manager, BlackRock, recently said it is entering into the cryptocurrency business, according to US Securities and Exchange Commission (SEC) filings. BlackRock, which manages $8.7 trillion, said in its SEC filings that it is seeking to add the Bitcoin futures investments to the BlackRock Global Allocation Fund and the BlackRock Strategic Income Opportunities Fund.

Author(s): Ellen Chang

Publication Date: 11 February 2021

Publication Site: ai-CIO

Growing Number of Pension Funds, Endowments, Foundations Adding Bitcoin to Portfolios

February 13, 2021 Mary Pat Campbell

Link: https://www.ai-cio.com/in-focus/market-drilldown/growing-number-pension-funds-endowments-foundations-adding-bitcoin-portfolios/

Excerpt:

The number of pension funds, endowments, and foundations adding Bitcoin to their portfolios has steadily risen over the past couple of years as the digital asset has gained more acceptance as an alternative asset.
Two pension funds in Fairfax, Virginia, began investing in late 2018 and 2019 in blockchain technology and Bitcoin through investments in two Morgan Creek Digital funds, which many consider the first investments in the crypto asset from a US pension fund. And a number of hedge funds, family offices, pension funds, endowments, foundations, asset managers, registered investment advisers (RIAs), and banks own Bitcoin outright through Boston-based Fidelity Digital Assets.

Author(s): Ellen Chang

Publication Date: 11 February 2021

Publication Site: ai-CIO

Two NYC Pension Funds Divesting $4 Billion from Oil Companies

January 27, 2021 Mary Pat Campbell

Link: https://www.ai-cio.com/news/two-nyc-pension-funds-divesting-4-billion-oil-companies/

Excerpt:

Oil companies are quickly losing investors, including two pension funds in New York City, as more asset managers are pivoting to renewable options in the battle against climate change and for environmental, social, and governance (ESG) investing.
The two pension funds will divest an estimated $4 billion from fossil fuel companies. NYC Comptroller Scott Stringer on Twitter called the move “one of the largest divestments in the world.”
The move to sell holdings in oil companies mirrors the divestment from tobacco companies two decades ago.
The $77.4 billion New York City Employees’ Retirement System (NYCERS) and the $91.4 New York City Teachers’ Retirement System (TRS) approved the divestments in a vote on Monday. They represent the largest pension funds within the $239.8 billion New York City Retirement Systems.

Author: Ellen Chang

Publication Date: 26 January 2021

Publication Site: ai-CIO