Public plans continued to increase their asset risk,
WOW. These are not small, rinky dink little plans that are diving into alternatives....
Well some are (and probably shouldn't), but in the past some very large plans have done very large bets in the past and gotten burned bad.
Back in 2014, I looked at San Diego County, for instance: https://stump.marypat.org/article/56/public-pensions-watch-alternative-asset-classes-pt-4-of-many-san-diego
They were in alts and using a LOT of leverage. They backed out of that strategy, it looks like, but their investment experience took a hit in general:
https://publicplansdata.org/quick-facts/by-pension-plan/plan/?ppd_id=97
A lot of plans are taking a serious gamble.
WOW. These are not small, rinky dink little plans that are diving into alternatives....
Well some are (and probably shouldn't), but in the past some very large plans have done very large bets in the past and gotten burned bad.
Back in 2014, I looked at San Diego County, for instance: https://stump.marypat.org/article/56/public-pensions-watch-alternative-asset-classes-pt-4-of-many-san-diego
They were in alts and using a LOT of leverage. They backed out of that strategy, it looks like, but their investment experience took a hit in general:
https://publicplansdata.org/quick-facts/by-pension-plan/plan/?ppd_id=97
A lot of plans are taking a serious gamble.