U.S. Public Pension Handbook by Von M. Hughes

Author:Von M. Hughes
Language: eng
Format: epub
Publisher: McGraw-Hill Education
Published: 2019-02-15T00:00:00+00:00

Chart 9.13 Distribution of Total Portfolio Benchmarks (2015). Source: “How Do Fees Affect Plans’ Ability To Beat Their Benchmarks?” by Jean-Pierre Aubry and Caroline V. Crawford, State and Local Pension Plans, Center for Retirement Research at Boston College, No. 61 (August 2018)

Performance vs. Benchmark

Aubry and Crawford (2018) provide a good look at how public pension investment performance has compared to the established benchmarks. As it turns out, looking at public pension benchmark and return data over the period 2002–2016, presented in Chart 9.14, we can see that 66% of public pensions in the United States outperformed and 32% underperformed their overall portfolio benchmark.64

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