Following a weak 2022, the Government Pension Fund Global’s market value rose to $1.443 trillion at the end of June.
Those stocks, such as Altria and Verizon, carry the top yields, but their flagging prices negate the sweet payouts, according to Bespoke.
But the Massachusetts state pension fund missed its benchmark’s return by nearly 300 bps.
July sees fourth consecutive month of improved U.S. corporate pension funding.
Technology leaders are off since mid-July, amid new investor wariness and concerns over their high valuations, the research firm contends.
The portfolio’s market value dropped by more than $2 billion last year to $20.2 billion.
Wisconsin’s Select Equity fund, launched just four months ago, aims to use such techniques as long-short pairings.
However, the Joint Staff Pension Fund’s asset value had recouped more than half of those losses by July 20.
The firm aims to raise $1.2 billion to invest in the country’s climate infrastructure.
The returns are expected to reduce the city’s required contributions to the pension systems by approximately $550 million over the next five years.
Major investment firms such as Blackstone have pushed into business development companies, whose sizable yields are alluring.
The $9.4 billion Illinois Police Officers’ Pension Investment Fund has $450 million in international small-cap stocks.
It’s trickier for some, like the Norwegian program, which is funded by North Sea oil.
The pension giant’s public equity portfolio returned 16.7% for the year, but the overall portfolio fell short of its 7% target.
Nearly half of the commitments were made to three private equity funds.