The Winter 2019 edition of Market Group‘s quarterly magazine, Institutional Allocator, is here!
Welcome to Volume 2 Edition 1 of Institutional Allocator’s quarterly magazine. For this quarter’s cover story of IA, Editor Mark Fortune and Managing Editor Leslie Kramer took a look at the state of U.S. pension plans’ funding status, how liabilities affect returns, and what the future holds for defined-benefit plans. To get a sense of what’s inside industry players’ heads, Editor Mark Fortune spoke with a group of pension fund CIOs, asset managers and consultants who attended Market Group’s Sixth Annual Institutional Forum in Austin, Texas. The group discussed the state of affairs of public versus corporate plans, how to best invest for liabilities, regulations and more.
Managing Editor Leslie Kramer dove into some recently released research from The Center for Retirement Research at Boston College, which offered some startling news. It showed that the worst funded plans are doing a poorer job than their peers when making investment choices, thereby bringing in lower returns.
Kramer also interviewed Robert “Vince” Smith, CIO of the New Mexico State Investment Council, on his strategy planning for what he sees as a coming market downturn. “We have been decreasing equity, since late 2014, early 2015,” he said in an interview with IA.
For our Asset Owner Spotlight section, we sat down for a chat with Carolyn M. Weiss, chief financial officer and treasurer of The New York Community Trust, Elizabeth Burton, CIO Hawaii ERS and Betty Yee, controller California Public Employees’ Retirement System.
For more on U.S. public pension funds and endowments & foundations’ asset allocations, investment strategies and ESG plans, read on!