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...

More World

Everest's Sherpas acclimatising to life in New York
World

Everest's Sherpas acclimatising to life in New York

Now Uber drivers, they want one more crack at the world’s highest mountain.

Anglo American to enter talks with BHP after rejecting US$50b bid
World

Anglo American to enter talks with BHP after rejecting US$50b bid

BHP’s third proposal comes as Australian miner looks to bolster exposure to copper.

Janus Henderson takes big swing on Australian REITs
World

Janus Henderson takes big swing on Australian REITs

The fund manager has more than US$13.34 billion of fixed-interest investments.