By the Numbers for February 2021
Pension risk transfer activity
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Monthly corporate funding ratio
Trailing 12-month returns by asset class
| 2020 | 2021 | ||||||
| June | July | August | September | October | November | December | January |
|---|---|---|---|---|---|---|---|
| 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% | Russell 2000 20.0% | Russell 2000 30.2% |
| 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% | S&P 500 18.4% | MSCI EM 27.9% |
| 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% | MSCI EM 16.3% | S&P 500 17.2% |
| 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 ACWI ex-U.S. 10.7% | MSCI ACWI 14.0% |
| 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% | Global ex-U.S. fixed income 10.1% | Global ex-U.S. fixed income 8.2% |
| 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% | BB U.S. Agg 7.5% | High Yield 7.4% |
| 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% | High Yield 7.1% | BB U.S. Agg 4.7%% |
| 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% | Cash 0.7% | Cash 0.6% |
| Real Estate -15.5% | Real Estate -13.2% | Real Estate -12.0% | Real Estate -16.6% | Real Estate -21.5% | Real Estate -10.5% | Real Estate -9.2% | Real estate -9.8% |
Commodities' turbulent ride
Bloomberg Total Return Commodity index
WTI Crude price per barrel
Largest weightings in the Bloomberg Commodity index
Sources: P&I Research Center; NISA Investment Advisors; Bloomberg LP
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