Equity exposure drives strong gains for pension plan.
Newer and smaller funds post outsized returns, while volatility for former declines to match industry.
QMA introduces a checklist for evaluating liquid alts to help investors align their choices with their objectives.
World’s largest pension fund returns $70 billion, driven by domestic and international equity exposure.
The $155 billion pension will cut bond holdings and raise caps on illiquid assets.
FCA says investors paying higher prices for funds typically achieve worse performance.