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Trustees hear October performance report and debate private-market allocations in target-date funds
Summary
An unidentified presenter told trustees the October report showed gains driven by technology stocks and that managers and trustees debated the risks and liquidity of adding private-market exposure to target-date funds.
At a Norwalk City pension board meeting, an investment presenter reviewed October results and trustees discussed manager-level performance, recent fee changes and the prospect of introducing private-market allocations into target-date funds offered to plan participants.
The presenter said broad markets were strong in October, with "S and P 500 gained 2.3% in October," and noted MSCI Emerging Markets led monthly returns…
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