By the Numbers for November 2022

Pension risk transfer activity
Total completed transactions (billions)
  
Most recent transactions (millions)
TypeSponsorDateAssets
Coats U.K. Pension SchemeDec. 6$429
Rolls-Royce North AmericaDec. 5$145
Balfour Beatty Pension FundNov. 30$2,100
TT ElectronicsNov. 21$473
Peabody EnergyNov. 4$752
Commercial Vehicle GroupNov. 3$25
Commercial Vehicle GroupNov. 3$4
Huntington Ingalls IndustriesNov. 3$32
Prestige Consumer HealthcareNov. 3$31
Prestige Consumer HealthcareNov. 3$14
Cooper-Standard HoldingsNov. 3$257
Agfa-GevaertNov. 2$232
Ally FinancialNov. 2$103
Ally FinancialNov. 2$44
For details on all recent pension risk transfers, click here.
Funding ratio of S&P 500 pension plans
Trailing 12-month returns by asset class
20212022
DecemberJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovember
S&P 50028.7%S&P 50023.3%S&P 50016.4%S&P 50015.6%Real Estate0.7%Cash0.1%Cash0.2%Cash0.2%Cash0.4%Cash0.6%Cash0.8%Cash1.1%
Real Estate23.0%Real Estate18.1%Real Estate10.6%Real Estate12.2%S&P 5000.2%S&P 500 -0.3%BB U.S.  Agg-10.3%S&P 500 -4.6%High Yield -10.6%High Yield-14.1%High Yield-11.8%High Yield-9.0%
Russell 200014.8%MSCI ACWI ex-U.S.3.6%High Yield0.6%Cash0.1%Cash0.1%Real Estate -5.2%S&P 500 -10.6%High Yield-8.0%S&P 500 -11.2%BB U.S. Agg-14.6%S&P 500 -14.6%S&P 500-9.2%
MSCI ACWI ex-U.S.7.8%High Yield2.1%Cash0.0%High Yield-0.7%High Yield-5.2%High Yield -5.3%High Yield-12.8%BB U.S.  Agg-9.1%BB U.S.  Agg-11.5%S&P 500-15.5%BB U.S.  Agg-15.7%MSCI ACWI ex-U.S.-11.9%
High Yield5.3%Cash0.0%MSCI ACWI ex-U.S.-0.4%MSCI ACWI ex-U.S.-1.5%BB U.S. Agg-8.5%BB U.S.  Agg-8.2%Real Estate-13.5%Real Estate-9.8%Real Estate-16.6%Real Estate-22.4%Russell 2000-18.5%BB U.S.  Agg-12.8%
Cash0.0%Russell 2000-1.2%BB U.S. Agg-2.6%BB U.S. Agg-4.2%MSCI ACWI ex-U.S.-8.5%MSCI ACWI ex-U.S. -12.4%Global ex-U.S. fixed income -18.8%Russell 2000 -14.3%Russell 2000 -17.9%Russell 2000-23.5%Global ex-U.S. fixed income -24.6%Russell 2000 -13.0%
BB U.S. Agg-1.5%BB U.S. Agg-3.0%Russell 2000-6.0%Russell 2000-5.8%Global ex-U.S. fixed income-15.5%Global ex-U.S. fixed income -16.7%MSCI ACWI ex-U.S. -19.4%MSCI ACWI ex-U.S. -15.3%MSCI ACWI ex-U.S. -19.5%Global ex-U.S. fixed income-24.8%MSCI ACWI ex-U.S.-24.7%Real Estate-16.9%
MSCI EM-2.5%MSCI EM-7.2%Global ex-U.S. fixed income-7.1%Global ex-U.S. fixed income-7.9%Russell 2000-16.9%Russell 2000-16.9%Russell 2000 -25.2%Global ex-U.S. fixed income -18.5%MSCI EM -21.8%MSCI ACWI ex-U.S.-25.2%Real Estate-24.7%MSCI EM-17.4%
Global ex-U.S. fixed income-7.0%Global ex-U.S. fixed income-7.9%MSCI EM-10.7%MSCI EM-11.4%MSCI EM-18.3%MSCI EM -19.8%MSCI EM -25.3%MSCI EM -20.1%Global ex-U.S. fixed income -22.0%MSCI EM-28.1%MSCI EM-31.0%Global ex-U.S. fixed income -19.8%
U.S.-listed Chinese stocks rebound strongly
Nasdaq Golden Dragon China Total Return index
Nasdaq Golden Dragon China index monthly return
Nasdaq Golden Dragon China index sector breakdown
Sources:P&I Research Center; NISA Investment Advisors; Bloomberg LP; Nasdaq