Despite the loss, the commonwealth’s pension funds just beat out their benchmark’s performance.
More than $800 million from Special Financial Assistance Program will help two pension funds covering more than 22,000 participants.
In three decades, both asset classes went south at the same time in only nine quarters, and two of them occurred this year, says Panama’s Santiago.
Market slump causes $262 billion drop in U.S. public pensions’ funding levels in June.
New York State Common Retirement Fund benefits from having a fiscal year that ended before the second-quarter market slump.
Inflation, Fed rate hikes and an inverted yield curve are all undermining what seems like a new bull market, says Comerica’s Lynch.
The $280 billion retirement fund allocates the majority of its $4 billion in total monthly investments to real estate funds.
Not all of them are the FAANGs, like pharma firm Eli Lilly.
After lagging during the stock bull market, the asset class now scores decent returns, says Morningstar.
The underfunded program wants a diversified portfolio that doesn’t underperform in bad times.
Tuesday’s dip, led by Fed anxiety and some bad news, is disquieting.
The California county’s plan, already low on equities, reduces its stock allotment further due to the world’s troubles.