The Wall Street Journal

Pension funds are pulling US$325 billion from stocks

Pension funds are pulling US$325 billion from stocks
Corporate pension funds in the US are shifting money into bonds, and state and local government funds are swapping stocks for alternative investments. (Image: Getty)
The Wall Street Journal
By Heather Gillers and Charley GrantStock portfolios at large pension funds had a blockbuster run. Now, managers are cashing out.Corporate pension funds are shifting money into bonds. State and local government funds are swapping stocks for alternative investments. The nation’s largest public pension, the California Public Employees’ Retirement System, is planning to move close to US$25 billion (NZ$42.2b) out of equities and into private equity and private debt.Like investors of all kinds, the funds are slowly adapting to a world of...

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