30-year industry leader to succeed Len Brennan, who will become strategic advisor to the firm.

The largest annualized growth over past five years is from North American funds.

EMs currently account for more than half of the world’s GDP and around two-thirds of GDP growth—that economic share is only expected to rise as EMs are projected to grow faster than developed markets (DMs) in upcoming years.

Total assets under management rise to more than $190 billion.

Growth of liabilities outpaced assets, however, deficits are down from a year ago. 

For corporate DB plans, return-seeking assets are often synonymous with traditional equities. That’s fine if market conditions are just right, but it leaves plans vulnerable in many environments. We think the solution is to diversify return-seeking allocations with assets that may perform well in a variety of conditions.

Approval is the first under the Multiemployer Pension Reform Act of 2014.