Issue Briefs
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Public pension plans have been shifting toward more complex investments in the past two decades, moving a sizable share of assets out of traditional equities, bonds, and cash into alternative assets, and expanding their reliance on external managers. This increased complexity, coupled with a shift toward active management, contrasts sharply with other investors,…
In June 2022, U.S. inflation peaked at 8.9 percent – a dramatically high level after nearly three decades of relatively stable prices. Because inflation has been so low for so long, the risks of inflation have been generally overlooked and recent history does not offer much practical insight on its impact. But a shock of…
