Examining the Recent Shift in State and Local Pension Plans to Alternative Investments
Huixin Bi () and
Trenton Herriford ()
Macro Bulletin, 2017, 1-4
State and local pension plans have increasingly turned to alternative investments in recent years. The authors found that this shift appears to be across the board; underfunding only partially explains this shift. In addition, they found that switching to alternative investments does not necessarily increase the volatility of returns.
Keywords: Investments; Pension plans (search for similar items in EconPapers)
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