Although the plight of major US public pension funds is nothing new, the gap between actual and assumed returns is widening faster than ever, owing to today's ultra-low interest rates. But these funds also have inherent advantages that, if used wisely, can place them on a much sounder financial footing.
explains how struggling institutional investors can meet their goals in today's financial environment.
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In 2020, the COVID-19 pandemic accelerated a process of deglobalization that was already underway, exposed deep disparities in the quality of governance around the world, and cast a shadow of anxiety across all societies. Even more ominously, recovering from the crisis will require a political stability, policy coherence, and international cooperation on a scale not witnessed in years.
