After a punishing 2022 ended on a slight upswing, allocators posted a 4.1% increase in this year’s first period, per a Northern Trust study.
Despite downturn, the $684.5 billion fund’s losses were offset by an increased allocation to alts.
Investment portfolios see sharp reversal from last year’s record returns.
The Department of Labor is concerned fiduciaries will misinterpret its earlier June 2020 letter.
The Educational Retirement Board’s portfolio gained 28.76%, or $3.6 billion for the year.