By the Numbers

Pension risk transfer activity
Annual volume by category (billions)
  
Most recent transactions (millions)
TypeSponsorDateAssets
General ElectricDec. 16$1,700
Maersk Retirement Benefit SchemeDec. 16$1,500
BBC Pension SchemeDec. 15$4,000
Aon Retirement PlanDec. 15$675
Barclays BankDec. 14$6,600
Northern Gas Networks Pension SchemeDec. 10$512
Trinity IndustriesDec. 7N/A
AvivaNov. 27$1,200
Prudential Staff Pension SchemeNov. 11$4,800
Marks and SpencerNov. 4$971
KemperNov. 3N/A
KemperNov. 3N/A
For details on all recent pension risk transfers, click here.
Monthly corporate funding ratio
Trailing 12-month returns by asset class
AprilMayJuneJulyAugustSeptemberOctoberNovember
BB U.S. Agg 10.8%S&P 500 12.8%BB U.S. Agg 8.7%S&P 500 12.0%S&P 500 21.9%S&P 500 15.1%S&P 500 9.7%S&P 500 17.5%
Global ex-U.S. fixed income 2.6%BB U.S. Agg 9.4%S&P 500 7.5%BB U.S. Agg 10.1%MSCI EM 16.5%MSCI EM 10.4%BB U.S. Agg. 6.2%MSCI EM 15.0%
Cash 2.1%MSCI EM 5.4%MSCI EM 2.1%MSCI EM 7.2%MSCI ACWI ex-U.S. 8.3%BB U.S. Agg 7.0%Global ex-U.S. fixed income 5.0%Russell 2000 13.6%
S&P 500 1.8%Global ex-U.S. fixed income 2.7%Cash 1.7%Global ex-U.S. fixed income 5.9%BB U.S. Agg 6.5%Global ex-U.S. fixed income 5.5%MSCI EM 4.9%MSCI ACWI ex-U.S. 9.5%
MSCI EM -4.3%Cash 1.9%Global ex-U.S. fixed income 0.7%High Yield 4.1%Russell 2000 6.0%High Yield 3.3%High Yield 3.5%Global ex-U.S. fixed income 8.9%
High Yield -4.5%High Yield 1.38%High Yield 0.0%Cash 1.5%High Yield 4.7%MSCI ACWI ex-U.S. 3.0%Cash 0.9%BB U.S. Agg 7.3%
MSCI ACWI ex-U.S. -11.2%MSCI ACWI ex-U.S. -3.4%MSCI ACWI ex-U.S. -4.8%MSCI ACWI ex-U.S. 0.7%Global ex-U.S. fixed income 4.6%Cash 1.1%Russell 2000 -0.1%High Yield 7.2%
Russell 2000 -13.2%Russell 2000 -3.4%Russell 2000 -6.6%Russell 2000 -4.6%Cash 1.3%Russell 2000 0.4%MSCI ACWI ex-U.S. -2.6%Cash 0.8%
Real Estate -16.4%Real Estate -16.1%Real Estate -15.5%Real Estate -13.2%Real Estate -12.0%Real Estate -16.6%Real Estate -21.5%Real Estate -10.5%
The air travel industry's long road back
Airline and airport stocks
U.S. carriers revenue passenger miles (millions)
Airbus new commercial aircraft deliveries**
*2020 data are as of Nov. 30. **2020 data are as of Sept. 30. Sources: P&I Research Center; NISA Investment Advisors; Bloomberg LP
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