Here’s a quick roundup of stories you may have missed today. Daly, Pawk & Fun Home Duo Set for Hollywood ArmsMichele Pawk will reprise her Tony-winning turn in a one-night-only benefit reading of Carol Burnett and Carrie Hamilton’s Hollywood Arms. The event will take place on September 21 at New York’s Merkin Concert Hall. Joining her will be Tony winner Tyne Daly (currently on Broadway in It Shoulda Been You) and Fun Home Tony nominees Sydney Lucas and Emily Skeggs. The play, based on Burnett’s memoir One More Time, played Broadway in 2002 and also starred Linda Lavin.Laurence Fishburne to Lead Roots RemakeTony and Emmy winner Laurence Fishburne will star in a remake of Roots for A+E Networks next year. According to Variety, he’ll take on the role of Alex Haley, author of the original novel Roots: The Saga of an American Family. Fishburne, who can be seen on the small screen now in Hannibal and Black-ish, won a Tony for Two Trains Running and also appeared on Broadway in The Lion in Winter and Thurgood. Lawrence Konner, Mark Rosenthal, Alison McDonald (yes, Audra’s sis) and Charles Murray will pen the event series.Anthony Mackie Will Play MLK in All the WayBroadway alum Anthony Mackie has been tapped to take on the role of Martin Luther King Jr. in the HBO adaptation of All the Way, reports Deadline. He joins the previously reported Bryan Cranston, who will reprise his Tony-winning performance as Lyndon B. Johnson. Brandon J. Dirden created the role on stage in the Broadway production, which took home the 2014 Tony Award for Best Play. Mackie most recently appeared on Broadway in the 2010 production of A Behanding in Spokane opposite Christopher Walken. Steven Spielberg is executive producing the project, which is scheduled to begin shooting this September.MacKenzie Mauzy to Lead Manson Lifetime MovieBroadway alum MacKenzie Mauzy, who appeared in the Into the Woods film as Rapunzel, will star in a Lifetime original movie about the Manson Family murders. According to Deadline, the film, currently titled Manson’s Lost Girls, will focus on Linda Kasabian (Mauzy,) who, after the brutal murder spree led be Charles Manson, turned herself in and testified against Manson in the trial. The film will also star Jeff Ward, Eden Brolin, Greer Grammer and Christian Madsen.Autumn Reeser Returns to The O.C., This Time SingingAutumn Reeser, who played Taylor Townsend on the Fox series The O.C., has joined the cast of the teen drama’s musical adaptation. According to E! Online, Reeser will take on the role of Julie Cooper, joining a cast that includes Broadway alum Drew Seeley, Rick Cosnett and Christine Lakin. The musical extravaganza, which will feature a score of tunes from the early 2000s, is set for August 30 at Los Angeles’ Sterling’s Upstairs at the Federal Bar. View Comments
Sweden’s AP7 plans to introduce factor investing into its portfolio for the first time as part of a risk-reduction exercise.The national pension fund that provides the default option in Sweden’s Premium Pension System (PPM) will also lower the gearing on its equity portfolio.The SEK430bn (€41.4bn) pension fund said: “As a step in implementing the new strategic portfolio, which was decided in 2016, AP7 is now starting to invest in factor premiums.”The goal, it said, was to invest 10% of the fund in these strategies over the next few years. “At the same time, the normal level of leverage is being reduced to 25%,” it said. This is reduction from the previous normal level of 35%.However, the actual level of gearing was to be set even lower, at 15% percent, AP7 said, due to its previous assessment of market valuations.At the end of December, the pension fund’s actual level of gearing was around 25%, according to its 2017 annual report.Since 2010, a central part of AP7’s management strategy for its SEK396bn equity fund – which accounts for the vast majority of its overall assets – has been passive exposure to a global index with leverage of 50%. AP7’s default option pension product, known as AP7 Såfa, is a lifecycle fund combining AP7’s equity and bond funds.In 2015, AP7’s board opted to halve the actual level of gearing to 25% because stockmarket valuations were considered high. In December 2016, when presenting a new strategic portfolio to be implemented by 2020, it reduced the normal leverage to 35% from 50% in order to increase the room for manoeuvre associated with the change.The first step in introducing other risks then began in 2017, and involved increased exposure to emerging markets and private equity, AP7 said.The pension fund said the new management strategy was aimed, in particular, at reducing risk through diversification.“Another central part of the strategy is to systematically apply more dynamic risk-taking, where the fund’s overall risk level is adjusted to extreme market valuations,” it said.In February the pension fund put out a tender for advice on “active alpha” procurement, in part of its move to add risk-factor investments to its portfolio.