By the Numbers for September 2020

Pension risk transfer activity
Annual volume by category (billions)
  
Most recent transactions (millions)
TypeSponsorDateAssets
TI Group Pension SchemeSept. 24$183
Moog Inc.Sept. 21$481
HP Inc.Sept. 9$2,000
Marathon Service (G.B.) Ltd. Pension and Life Assurance SchemeSept. 1$798
Hitachi U.K. Pension SchemeAug. 25$360
Siemens Benefits SchemeAug. 19$692
Littlewoods Pensions SchemeAug. 12$1,200
Arconic Inc.Aug. 4$250
Countrywide Farmers Retirement Benefits SchemeJuly 30$128
LV= Employee Pension SchemeJuly 28$1,000
For details on all recent pension risk transfers, click here.
Monthly corporate funding ratio
Trailing 12-month returns by asset class
2020
FebruaryMarchAprilMayJuneJulyAugust>September
BB U.S. Agg 11.7%BB U.S. Agg 8.9%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 8.2%Cash 2.3%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%
High Yield 6.1%Global ex-U.S. fixed income 0.7%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 4.8%High Yield -6.9%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 3.9%S&P 500 -7.0%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%
Real Estate 3.1%MSCI EM -11.3%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 2.2%MSCI ACWI ex-U.S. -15.6%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%
MSCI ACWI ex-U.S. -0.7%Real Estate -23.0%Russell 2000 -13.2%Russell 2000 -3.4%Russell 2000 -6.6%Russell 2000 -4.6%Cash 1.3%Russell 2000 0.4%
Russell 2000 -4.9%Russell 2000 -24.0%Real Estate -16.4%Real Estate -16.1%Real Estate -15.5%Real Estate -13.2%Real Estate -12.0%Real Estate -16.6%
DC investment performance
DC investment transfer activity
DC average allocations to high yield
Sources: P&I Research Center; NISA Investment Advisors; Bloomberg LP; Callan
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