The $7.4 trillion asset manager sees cash as a guard against further shocks, leading a trend sweeping corporate America.
Economic impact of virus could lower state pension valuation.
SFERS encourages business to be creative in supporting the COVID-19 relief effort and to ‘utilize the current crisis to lead the human experience to new heights.’
Commissions in the securities industry have dropped during other financial crises. In 2008, they fell 47%.
The institutional investor joins firms such as JPMorgan in mobilizing around the relief effort.