While coronavirus remains a public health concern, the market has significantly recovered from its March lows with all US states re-opening to some degree despite the recent uptick in COVID-19 cases. In our second edition of the Corporate Pension Quarterly Q2 2020: Whiplash, we provide observations on market volatility and pension funded status, and current themes that are top of mind for clients.
Mike Moran, Senior Pension Strategist, GSAM
“The sharp rebound in equities during Q2 was welcomed by many DB investors. Nonetheless, tighter credit spreads hurt the liability side of the equation, limiting the increase in funded levels.”
Greg Calnon, Head of Global Portfolio Solutions, GSAM
“With the first half of the year behind us, it’s safe to say that market volatility underscored the importance of thoughtful portfolio construction, risk management and nimble implementation for investors.”