Ontario Teachers' Pension Plan (Ontario Teachers') announced a rate of return on investments of 13.0% for the year ended December 31, 2015, resulting in an increase in net assets to a record $171.4 billion from $154.5 billion at the end of 2014.

The European Securities and Markets Authority (ESMA) has published its final Guidelines on sound remuneration policies under the UCITS Directive and AIFMD. ESMA has also written to the European Commission, European Council and European Parliament on the proportionality principle and remuneration rules in the financial sector.

State Street Global Advisors (SSGA), the asset management business of State Street Corporation, announced the appointment of Julian Harding as managing director and global head of core beta research.

The transaction is expected to increase SSGA's assets under management by approximately $100 billion upon closing and add new alternatives capabilities, while strengthening existing fundamental equity and active fixed income teams.

A more dovish FOMC than expected on March 16 offered the equity rally another leg up. The Fed shaved off its growth and inflation forecasts and its median dot was revised two notches down. Bond yields weakened and the downward pressure on the dollar further supported oil prices and EM assets.