$78.9 billion pension fund would be permitted to invest as much as 5% of portfolio in alternatives.
Poor equity performance is the biggest risk for the largest US pension plan, review shows.
An increase in equity markets boosted corporate pensions’ funded status to 91%.
Agency to de-risk from stocks in favor of infrastructure, greater diversification.
Fund manager reports that some ‘ethical exclusions’ have lowered the fund’s performance.
But 10-year average annual dips to 4.6%.
World’s largest pension fund returns $70 billion, driven by domestic and international equity exposure.