Although the first quarter was a wipe-out for plans, a surge in a special-strategy segment of the portfolio limited the damage in the smallest state.
Designed to fly high during slumps, a bunch of them have disappointed, big time.
The state government secured an unprecedented $300 million in debt last week to tackle the coronavirus public health crisis.
Company retirement systems dropped to an 82% average funded ratio, the lowest level since 2016, thanks to the coronavirus.
Corporate debt could hit ‘wall of maturity’ in a few years, Morningstar panelists say.
Francis Blair will help PSP Investments debt division’s focus on distressed companies.
Estimates cite lackluster returns, Gov.’s spending plan as causes of debt hit.
Gov.-elect Murphy hopes to meet or beat Gov. Christie’s state contribution plans.
Borrowing to fund plans is trending with liability driven investing.
Sees strongest support from Japan, Korea, Canada, and Germany-based institutional investors.
Blames regents for ‘policy flip flop’ and ‘political gamesmanship.’
Report cites empty promises from Social Security, DB programs as the cause.