Director of Investments Joshua Fenton will succeed as head of the $8.3 billion philanthropic fund.
However, insurance companies likely won’t be able to accommodate the increased demand.
Join CIO on September 20 for a conversation with San Bernardino County Employees’ Retirement Association’s CIO Donald Pierce. He’ll discuss the decision to move out of international and emerging markets stocks and more into U.S. equities, how the fund is managing global and domestic fixed income in a time of rising interest rates and inflation, and much more. Register today.
Prudential, MetLife to take over responsibility for 100,000 participants and beneficiaries.
As inflation rises, bank deposits fall by nearly $370 billion in the second quarter—the largest decline in 20 years.