Pensions
Rhode Island Pension Returns 10.47% in Fiscal 2024
Assets of the ERSRI system rose to $11.369 billion.
Research firm overweights equities and bullion, amid pending rate drop.
The capital infusion into the sovereign wealth pool is meant to aid the kingdom’s bid to diversify its economy.
Dropping central bank rates will help a lot, with the 10-year Treasury total return rising as much as 13%, the firm contends.
They describe how higher rates have elevated the once-ignored asset class into a vital position.
The industry also is expanding its exposure to stocks and alts, amid rising rates.
Touted as a bulwark against recession, it could draw down quickly—and it is concentrated at a few big companies.
To Larry Summers, today’s trove of saved-up cash will juice consumer spending. TS Lombard is skeptical, due to the persistent virus.