The court affirmed a New York district court’s ruling that the pension plan’s investment strategy did not constitute a fiduciary breach.
But the institutional investors revamped their approach to the asset class after it failed to protect them when equities tanked in 2022.
The authors claim their Spread Based Direct Alpha method is more accurate than current measurements.
Backed by members of both parties, the measure aims to allow greater range of investments in defined contribution plans.
Investors will need help hitting even reduced target returns in the coming years, says Goldman Sachs report.
New allocation adds to WSIB’s already outsized allocation to these assets, which has helped cushion it amid equity market turbulence.