By the Numbers for September 2020
Pension risk transfer activity
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Monthly corporate funding ratio
Trailing 12-month returns by asset class
| 2020 | |||||||
| February | March | April | May | June | July | August> | 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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