Public Pensions’ Growth Exceeded Targets in February

Public pension plans had a good month in February, according to BNY Mellon Investment and Strategy Group (ISSG). Public plans’ robust month was attributable to their allocations to high-yield fixed income and U.S. large cap equities, ISSG says.

February saw the biggest monthly improvement in the last 12 months for public pension plans relative to their target performance.

Public plans exceeded their targets by 2.4% overall. ISSG reports that public plans’ assets grew by 3%, but that public plans’ returns were not as good as projections had anticipated.