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New Jersey preps search for emerging markets, international small-cap equity
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New Jersey Division of Investment, which handles investments for the New Jersey Pension Fund, Trenton, will issue an RFP next month for investment advisers to provide non-discretionary advice for emerging markets equity and international small-cap equity.
The division described its intention Wednesday in a report to the State Investment Council, which formulates policy for the division, a unit of the state Department of the Treasury.
The division currently has five emerging markets investment advisers, the report said. These firms provide non-discretionary investment advice for a total market value of about $5.7 billion of the pension fund s $83.3 billion in assets, the report said.
There aren t a lot of good things to say about 2020, except that the stock market ended up doing well. Plus, many investments with environmental, social, and governance tilts did even better. That was particularly good news for my firm s clients.
Just under a year ago, I wrote about how Rowling & Associates had integrated ESG-focused mutual funds into all our client portfolios. I explained our rationale that companies adequately considering ESG factors should be subject to less business risk and thus would produce better risk-adjusted returns over time and how we approached portfolio construction.
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The Australian dollar is trading at around a near three-year high of about US77.5 cents, even nudging reaching US80 cents last week, as world markets shrug off the dire economic impact of COVID-19 and the local currency follows commodity prices higher.
In Australia, an economic recovery is under way. Consumer spending has risen as COVID restrictions have been eased and the unemployment rate has fallen from its 2020 highs. Business and consumer confidence have lifted and commodity prices, iron ore in particular, have soared. Along with a generally weakening US dollar, this has helped push the Australian dollar higher.
“Our outlook for the Australian dollar continues to be positive with the possibility that it will test five-year highs of around US81.2 cents before the end of 2021,” says Felicity Thomas, senior private wealth adviser with Shaw and Partners.
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StreetCode Academy, Literacy Partners - Menlo Park s most recent grant recipient, offers free tech education and borrowed laptops to students in Menlo Park and nearby communities. The Literacy Partners - Menlo Park partner provides online training during the pandemic, but previously offered in-person instruction as shown here. Courtesy Literacy Partners - Menlo Park.
The Almanac and its partner, the Silicon Valley Community Foundation cover all the administrative costs, every dollar raised goes directly to this year s 10 nonprofit beneficiaries. Donate to the Holiday Fund at almanacnews.com/holiday fund.
In the midst of a pandemic, Literacy Partners – Menlo Park transformed a 10-year-old library-based nonprofit’s mission to now serve a greater number of local residents of all age groups.