Heather Gillers
speaker
548 appearances
11 recordings
1 series
first heard Nov 2018
last heard Oct 2021
Heather Gillers’s voice in public audio — every appearance, attributed to the second.
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If that continues, pensions could escape this year.
matched
They're going to fall short of their investment targets no matter, almost definitely.
matched
But we'll know by June 30th and even more by December 31st whether these investment losses are catastrophic or just difficult.
matched
Thanks so much.
matched
This volatility gets in the way of the pension funds being able to project their investment returns, how much their portfolios are going to grow in a big way.
And it also interferes with something that's been happening for the past decade or so, which is that pension funds have been gradually climbing out of the hole that they fell into in 2009.
A consultant I spoke with estimated that there's been about between 3% and 5% drop in the total holdings of U.S.
public pension funds, which is pretty significant if you consider the fact that they're usually seeking to earn, you know, to grow by 6% or 7%.
You know, that could be more than half of their entire yearly growth.
Several ways.
For all pensions, bonds have long been almost a kind of meat and potatoes, sort of bread and butter investment.
They're safe.
You know what you're gonna get every year with fixed income.
And so that's why people turn to bonds for all kinds of sort of long-term security investments, you know, insurance funds, people's own retirement accounts often contain municipal bonds.
And it's the same thing for pensions.
What's happened over the past several decades is that fixed income yields have been falling and falling and falling.
and public pension funds and corporate pension funds haven't been able to get the kind of income from bonds that they once got and that they often expected to be able to get for a long time.
So they were expecting to be able to earn this income, but all of a sudden, these safe, fixed income investments, these stable, steady investments are not
giving them that kind of income.
This is played out a little bit differently in the corporate pension world versus in the public pension world.
Showing 201–220 of 548 · page 11 of 28
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