World’s largest pension fund’s asset value rises to $1.54 trillion.
Hedge funds and other active strategies still play a role in diversifying risk in client portfolios, says firm’s Hyman.
Equity holdings fall by 22% in 20 years as pensions turn to alts in search of alpha.
Pension’s unfunded liabilities making it difficult to hire, retain teachers.
Level rises to 85.8% for corporate plan funding, Aon says.
Brexit expected to bring higher volatility and deficits for pensions.
While system is on track to full funding by 2046, investment volatility could throw a wrench into the process.