But the institutional investors revamped their approach to the asset class after it failed to protect them when equities tanked in 2022.
Higher interest rates have turned fixed income from a ho-hum investment into the hot new thing. Just ask LACERA.
Using methods other than market value should give superior performance amid slow economic growth and rapid inflation, respondents believe.
Toms, formerly the firm’s fixed income CIO, will oversee $330 billion in assets under management.
Private equity, hedge funds and high-yield bonds are promising investments for the future, Northern Trust Asset Management advises.
The pension fund committed nearly $500 million to real assets during the month.
Pension fund wants to halve its investment exposure to them by 2030.