Danish Pension Fund Blacklists SpaceX
Anders Schelde, CIO of AkademikerPension, cited overvaluation and governance concerns about the company, expected to make an initial public offering in June at a $1.8 trillion valuation.
In response, plan sponsors are strategizing about more than pension risk transfers.
Plan sponsors’ needs for long-dated bonds and the role of fixed-income managers may change as average liabilities fall to fewer than 10 years.
Some pension CIOs are adjusting their market scenario analyses to make sure their portfolios are well positioned to capture upside and avoid drawdowns.
A 3.5% aggregate investment loss for the 100 largest public defined benefit plans in the U.S. sent their funded ratios sharply lower in March, according to Milliman.