Finance, documents and senior couple on sofa with bills, paperwork

NEPC Survey Shows “Retirement Crisis” Is Real, But Resolvable

BOSTON–MARCH 5, 2024–(BUSINESS WIRE)NEPC, LLC, one of the country’s largest research-driven investment consultants and OCIO providers, today published the 18th annual edition of its Defined Contribution (DC) Plan Trends and Fee Survey, which examines current plan investment trends, features, and innovations across major sectors, and how these plans have evolved over the years. Respondents to the 2023 survey include 128 clients representing $259 billion in aggregate assets and 2.6 million plan participants.

This year’s data shows that the tools needed to solve the “retirement crisis” already exist, with 86% of respondents currently offering their participants a retirement income solution — most often in the form of a Target Date Fund (TDF) paired with systematic distribution. The survey also highlights:

  • An older contingency of plan participants than previously imagined, with 53% of participants over the age of 65 contributing to a TDF.
  • Close to 30% of plans have less than 10 core options, and that group is growing since TDFs represent 47% of plan assets.

“Our job as retirement consultants is to maximize the solutions that work for the most people and operate around the margins,” says Emma O’Brien, a principal on NEPC’s DC team. “The data shows that, contrary to the media’s perception, we don’t need to reinvent the wheel because Target Date Funds work.”

The high demand for TDFs pushes plan sponsors to be purposeful with their offerings, leading to a decline in core options. The survey suggests that clients want to unshackle themselves from having 15-20 options as the role of a core lineup is becoming less important, freeing up the opportunity to lower fees.

“TDFs are built to support retirement income drawdown,” O’Brien says. “We’re making progress instead of adding to the noise.”

This year’s survey also revealed that fees for managed accounts have dropped more than 10% over the past year, due to an increase in lower cost providers, who are challenging established managed account providers on fees. Managed Accounts can add value for participants and aid in solving the retirement crisis when handled correctly.

“Fees have come down because we are actively pushing for lower costs,” says Bill Ryan, partner and head of NEPC’s DC team. “As a team, we have spent a lot of time educating clients on the role of managed accounts, what personalization means, and what level of personalization is right for them. All of those discussions have pointed to fees, negotiated or not, being too high.”

NEPC’s Defined Contribution (DC) Practice team will discuss the survey’s findings during a webinar on March 5, 2024. Those interested in hearing how DC consultants are advising plans to address emerging opportunities can register for the webinar here.

The 18th Annual Defined Contribution (DC) Plan Trends and Fee Survey results can be downloaded here.

About NEPC, LLC

NEPC is an independent investment consultant, private wealth advisor, and OCIO provider serving over 400 retainer clients and $1.6 trillion in total assets. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net-worth families. To learn more about NEPC, visit nepc.com.

 

Media Contact:
Emma Rayder
[email protected]


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NEPC Expands Global Footprint with London, UK Office Opening in February

BOSTON–February 27, 2024NEPC, LLC, one of the industry’s largest independent, investment research-driven consulting firms, today announced the official opening of its London office, underscoring the firm’s commitment to providing global strategies and solutions to portfolios. Larissa Davy, Senior Investment Director of Real Assets, will lead NEPC’s regional efforts.

“NEPC’s expansion into London reflects our unwavering commitment to delivering innovative solutions and exceptional service to our clients,” said Larissa Davy, Senior Investment Director of Real Assets. “By establishing a physical presence in Europe, we aim to deepen our understanding of global markets and provide tailored strategies that align with our clients’ long-term objectives.”

In alignment with NEPC’s mission to foster global connectivity and empower its teams, Tim McCusker, Chief Investment Officer, emphasizes the importance of this expansion. “Our presence in London enables us to engage directly with investment managers and gain valuable insights into diverse investment perspectives,” McCusker stated. “This initiative highlights NEPC’s dedication to excellence and reinforces our position as a trusted partner in the investment community.”

2023 was a year of strong growth for NEPC and its client portfolios. Looking ahead into 2024 and beyond, NEPC’s mission remains focused on fostering deep connections with the global investment manager and allocator communities, ultimately positioning teams across the firm to be better investors with access to better solutions for clients.

 

About NEPC, LLC

NEPC is an independent investment consultant, private wealth advisor, and OCIO provider serving over 400 retainer clients and $1.6 trillion in total assets. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net-worth families. To learn more about NEPC, visit nepc.com.

 

Media Contact:
Laura Nascimento
[email protected]


Celebrating Growth: NEPC Announces New 2024 Partners and Principals

BOSTON–December 6, 2023NEPC, LLC one of the industry’s largest independent, research-driven investment consulting firms, today announced the election of six new partners and the promotion of five new principals across the firm. These new elections and promotions will be effective January 1, 2024.

2023 has seen strong growth for NEPC and its client portfolios. These new promotions highlight NEPC’s commitment to cultivating an experienced team across the firm that clients can trust will help them achieve their long-term goals.

“NEPC takes immense pride in nurturing and empowering our exceptional talent,” said Michael Manning, Managing Partner of NEPC. “It’s an honor to watch our team grow within the firm and also to bring in fresh perspectives.

The newly elected Partners are:

  • Rick Ciccione, Senior Consultant
  • Rose Dean, CFA, Senior Consultant
  • Oliver Fadly, Head of Private Debt Investments
  • Joe Nankof, ASA, Senior Consultant
  • Deirdre Robert, CFA, CAIA, Senior Consultant
  • Daniel Runnals, CFA, CAIA, Senior Consultant

NEPC’s new Principals are:

  • David Barnes, CFA, CAIA, Senior Consultant
  • Peggy Boraks, Senior Controller
  • Aaron Chastain, CFA, Senior Consultant
  • Nick Mann, Senior Investment Director, Private Markets
  • Emma O’Brien, Senior Consultant

Manning also stated, “These well-deserved appointments are a testament to our culture and core beliefs of elevating the experience and value we bring to the table to provide our clients with best-in-class solutions.”

For more information on NEPC’s employee workforce and to explore open opportunities, click here.

 

About NEPC, LLC

NEPC is an independent investment consultant, private wealth advisor, and OCIO provider serving over 400 retainer clients and $1.6 trillion in total assets. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net-worth individuals. To learn more about NEPC, visit nepc.com.

 

Media Contact:

Laura Nascimento

[email protected]


Market turbulence and financial crisis security concept as a volatile stock market with price volatility as a businessman holding an umbrella as a business symbol for wealth management

NEPC Survey Shows Defined Benefit Plans Are Focusing on Funded Position To Find Stability Amid Bearish View of Markets

BOSTON–NOVEMBER 9, 2023–(BUSINESS WIRE)–NEPC, LLC, one of the country’s largest research-driven investment consultants and OCIO providers, today published the 11th annual edition of its Defined Benefit (DB) Trends Survey, which examines funded status (“F/S”), forward-looking expected return on assets (EROA), and shifts in investor sentiment. Respondents to the 2023 survey included 51 corporate and healthcare organizations with the majority of plans ranging in size from $100 million to over $3 billion.

This year’s data showcases that 53% of respondents have a bearish view of markets over the next 12 months. Respondent sentiment demonstrates a full reversal from the results of the 2021 survey, where (56%) of respondents were bullish and 44% of respondents were bearish.  NEPC noted that clients are more focused on their funded status position rather than their portfolio’s absolute return amidst this period of macroeconomic market volatility.

“It pays to be a saver. Higher rates and higher inflation are typically good news for funded status and frozen plans as higher discount rates reduce the value of liabilities. While equity valuations are down, forward-looking return assumptions (especially for fixed income investments) fare better,” said Jake Mallinson, Consultant on NEPC’s Defined Benefit team. “Armed with an understanding of the proactive drivers of volatility, NEPC has been working with clients to pull on different levers, such as maintaining a disciplined hedging strategy, to ensure plan sponsors are best able to navigate sustained volatility.”

NEPC’s 2023 survey results also show the continued climb in funded status among DB plans. 74% of plans in the 2023 Survey reported a funded status above 90%, a noticeable increase from 2021, where only 63% of plans were above 90% funded. Large plans (over $1B) reported better funded status than small plans (under $1B). 65% of large plans reported a F/S of over 100% while only 23% of small plans reported a similar status.

“Total DB pension assets are dropping due the Feds efforts to combat inflation.  Meanwhile, discount rates are also rising, and plans’ funded statuses are increasing as interest rates are going up. Environments like this demonstrate why liability driven investments work, especially as a risk management tool,” said Brad Smith, Partner on NEPC’s Defined Benefit team. “NEPC continues to advise plan sponsors to utilize glide paths and take action to further “de-risk” plans.”

Other key trends highlighted in NEPC’s new survey:

  • There seems to be a shift to allocating more assets to LDI from prior years. On average, respondents had 41% of assets allocated to LDI compared to survey results in 2021 where only 30% of assets were allocated to LDI.
  • Forward-looking Expected Return on Assets (EROA) reversed course and are trending higher than in previous surveys. 71% of plans indicated they had an EROA of 6% or higher in 2023, a significant jump from NEPC’s most recent data in 2021, where only 52% of plans had an EROA of 6% or higher.
  • Respondents still fear a slowdown in global growth is imminent as 42% of respondents selected this as their greatest threat to their investment programs this year.
  • 40% of respondents expect Pension Discount Rates to remain the same level over the next year. However, 32% of respondents expect Pension Discount Rates to fall during that same time period, which is surprising given the Fed has stiffened its stance around staying committed to a more hawkish monetary policy going forward.

The Defined Benefit (DB) Trends Survey results can be downloaded here.

 

About NEPC, LLC

NEPC is an independent investment consultant, private wealth advisor, and OCIO provider serving over 400 retainer clients and $1.4 trillion in total assets. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net-worth individuals. To learn more about NEPC, visit nepc.com.

 

Media Contact:

Emma Rayder

[email protected]


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NEPC 2022 DEI Progress Report: Raising the Bar for the Investment Industry

BOSTON–(BUSINESS WIRE)– NEPC, a leading research-driven investment consultant and OCIO provider with $1.4 trillion in assets under advisement, today published its third annual Diversity, Equity, and Inclusion (DEI) Progress Report, a report that aims to uncover the investment-oriented benefits of diversity, supporting NEPC’s goal of being the investment industry’s most intentional and data-driven DEI leader.

This year’s report highlights the firm’s steady progress toward NEPC’s Diverse Manager Policy goals, which were initially set in 2019. This latest report is a direct reflection of NEPC’s view that diversity, equity, and inclusion drive sustainable success for clients, employees, and communities. Diversity helps unlock a wider range of talent and ideas, ultimately ensuring that investment teams are able to meet and achieve their investment goals.

“From the outset, our goal has been to help lead change in the investment industry by emphasizing the value of transparency and metric-driven policy when it comes to DEI. To do that, we’ve remained committed to learning, growing, and thinking about diversity as an identifier of opportunity and risk, not only within our walls but externally as well, and as a differentiator to better serve our clients, ” said Will Forde, Partner, Co-Chair, Diverse Manager Committee. “With well over half of our clients using Diverse Managers, we recognize the progress that we’ve made when thinking about engagement with diverse-owned and -led firms, but recognize the work that needs to be done in order to maintain and improve upon those efforts.”

NEPC’s 2022 DEI Progress Report provides insight into the firm’s DEI initiatives from a marketplace perspective. Listed below are highlights from this year’s report:

Client Exposure to Diverse Strategies

  • 59% of NEPC clients use Diverse Manager(s)
  • $40.4B of client’s assets with Diverse Firms
  • 182 client strategies managed by Diverse Firms

Increasing Diversity in NEPC’s Recommended Strategies

  • Driven by the Explorer Program, a platform to identify and engage with diverse-owned and -led investment management firms that are not currently 1- or 2-rated by NEPC, the centerpiece of NEPC’s DEI program is the goal of achieving 15% Diverse Manager representation by 2024.
  • NEPC achieved its initial goal of 10% Diverse Manager exposure by 2022 for OCIO accounts and is on track to achieve 15% Diverse Manager exposure by 2024.
  • NEPC conducted 206 interactions with Diverse Management firms in 2022, more than 3X the interactions in 2019.

“As the conversation around increasing diversity in the investment space continues to evolve, so must our goals and how we’re thinking about DEI standards, said Mike Manning, Managing Partner. “We are proud of what we’ve accomplished thus far, but NEPC is aware of the work that remains, and is committed to identifying meaningful ways to continue engaging with diverse-owned and -led firms.”

For more information about NEPC’s sustainable solutions like its Impact Investing Committee and Diverse Manager Committee, click here. To download the full results of NEPC’s 2022 DEI Progress Report, click here.

 

ABOUT NEPC, LLC

NEPC is an independent investment consultant, private wealth advisor, and OCIO provider serving over 400 retainer clients and $1.4 trillion in total assets. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net worth individuals. To learn more about NEPC, visit nepc.com.

 

Contact:
Laura Nascimento
[email protected]


NEPC Expands Public Funds Team, Hires Former Wilshire Advisors Managing Director

BOSTON–(BUSINESS WIRE)– NEPC, a leading research-driven investment consultant and OCIO provider with $1.4 trillion in assets under advisement, today announced that Rose Dean, CFA, has joined the firm as Senior Consultant and Principal, effective April 3, 2023. This announcement is part of NEPC’s strategic expansion of its West Coast and Midwest presence.

With over 21 years of industry experience, Dean advised state-level public pension funds, foundations, and corporate DB/DC plans with assets totaling over $600 billion as a general consultant. Dean brings deep investment acumen and experience to her new role and will report directly to Kevin Leonard, Partner, and leader of NEPC’s Public Funds Team.

“We are thrilled to have Rose join our team,” said Leonard. “As we continue to help clients navigate a complicated investment landscape, I know that Rose’s institutional experience and ability to build strong client relationships will help us continue building enduring and innovative investment programs tailored to our clients’ unique financial goals and constraints.”

Dean joins NEPC from Wilshire Advisors, where she most recently served as Managing Director. In that role, she led multiple asset owner relationships for non-discretionary and discretionary investment portfolio advisory services. She also served on Wilshire’s Fixed Income/LDI, Private Equity/Credit, and Diverse‐Owned Manager Committees. Prior to joining Wilshire, Dean ran a start‐up alternative investment consulting business, advising on opportunities focused on private credit and asset‐based loan portfolios. Her experience also includes trading fixed income at Citigroup and conducting hedge fund manager research at Harcourt.

“I’m excited to join an industry leader such as NEPC, and to work alongside a dynamic team to strengthen our West Coast and Midwest presence as we continue to build on our already strong foundation.”

To learn more about NEPC, click here.

 

ABOUT NEPC, LLC

NEPC is an independent investment consultant, private wealth advisor, and OCIO provider serving over 400 retainer clients and $1.4 trillion in total assets. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net worth individuals. To learn more about NEPC, visit nepc.com.

 

Contact:

Laura Nascimento
[email protected]


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NEPC Survey Shows Defined Contribution Plans Challenged by Booming Retirement Income Market, TDF Scrutiny

BOSTON–MARCH 7, 2023–(BUSINESS WIRE) — NEPC, LLC, one of the country’s largest research-driven investment consultants and OCIO providers, today published the 17th annual edition of its Defined Contribution (DC) Plan Trends and Fee Survey, which examines current plan investment trends, features, and innovations across major sectors, and how these plans have evolved over the years. Respondents to the 2022 survey included 119 clients representing $283 billion in aggregate assets and 2.2 million plan participants.

This year’s data showcases that retirement income solutions are more prevalent than what is typically discussed, with 84% of respondents currently offering their participants a retirement income solution – most often in the form of a Target Date Fund (TDF) that includes the flexibility to take installment withdrawals as a source of income in retirement. However, the survey also points to two major challenges for plan sponsors:

  • There is still no consistency or real industry consensus on how to create meaningful retirement income solutions in pooled employer plans.
  • A concurrent poll of NEPC consultants shows that retirement income solution selection is a pain point for many defined contribution clients. As the dedicated retirement income solution market has boomed over the past several years, many plan sponsors have struggled to evaluate their options strategically.

“As participants continue to demand retirement income solutions, plan sponsors are seeking trusted stewards to help them simplify what’s become a pretty complex evaluation and selection process,” said Alison Lonstein, Principal and Senior Consultant on NEPC’s Defined Contribution (DC) team. “This trend mirrors what we’ve seen in other segments of the retirement space – especially the increasingly complex ESG and legal environments. We’ve seen a significant uptick in clients asking for fiduciary training on the ESG landscape and requests for more insight and intel around legal news.”

NEPC’s 2022 survey also shows the continued dominance of TDFs in investment menus. Currently, 96% of respondents offer TDFs (unchanged from 2020) with 46% of total plan assets invested in TDFs (compared to 42% in 2020). While TDFs remain a popular option, plan sponsors are increasingly seeking guidance from investment consultants to help them better navigate rising scrutiny around these funds.

“Off-the-shelf and custom TDFs can have wide-ranging risk allocations, expenses, and best practices for management and reporting – something recent regulation and court cases are looking to address,” added Bill Ryan, Partner and Head of Defined Contribution (DC) Solutions. “As we’re likely to see continued focus on America’s retirement crisis in the years ahead, plan sponsors should be having hard conversations today about their fiduciary decision making and monitoring process for TDFs on their menu.”

Other key trends highlighted in NEPC’s new survey:

  • Increased adoption of passive tier options: 2022’s data shows 83% of plans currently offer a passive tier (three or more index funds), an increase from just 66% in 2020.
  • The growth of the DC plan OCIO market: As plan sponsors’ workforces and governance structures change, they are increasingly looking for OCIO solutions to streamline their plans. Throughout 2021, NEPC saw a 94% increase in OCIO assets (largely driven by a 17% increase in OCIO clients). Overall, 10% of NEPC’s DC clients are using the firm’s OCIO solution.

NEPC’s Defined Contribution (DC) Practice team will discuss the survey’s findings during a webinar on Thursday, March 8, 2023. Those interested in hearing how DC consultants are advising plans to address emerging opportunities can register for the webinar here.

The 17th Annual Defined Contribution (DC) Plan Trends and Fee Survey results can be downloaded here.

 

About NEPC, LLC

NEPC, LLC, is one of the country’s leading investment consultants and OCIO providers, servicing over 400 retainer clients with $1.4 trillion in assets1 with $301.2 billion in alternative assets2. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net worth individuals. To learn more about NEPC, visit nepc.com.

 

1 As of 10/1/2022

2 As of 12/31/2021, NEPC provides some form of advice to all clients counted but does not advise all clients on all asset classes.

 

Media Contact:

Laura Nascimento

[email protected]


In a Year of Growth and Expansion, NEPC Elects New Partners and Announces Promotion of Principals

BOSTON–December 15, 2022–NEPC, LLC one of the industry’s largest independent, research-driven investment consulting firms, today announced the election of seven new partners and the promotion of eleven new principals across the firm. These new elections and promotions will be effective January 1, 2023.

“NEPC continues to be an industry leader simply because we believe in identifying, attracting, and fostering world-class talent,” said Michael Manning, Managing Partner of NEPC. “These new partners and principals represent the best and brightest in our industry. Through either crafting tailored, research-driven strategies that ensure our clients’ long-term financial sustainability or supporting our clients and workforce with creative solutions, this team is ensuring that NEPC remains a premier destination for investment services.”

The newly elected Partners are:

  • Josh Beers – Head of Private Equity Investments
  • Sebastian Grzejka, CAIA – Senior Consultant, Endowments and Foundations
  • Matt Lombardi – Chief Financial Officer
  • Dulari Pancholi, CFA, CAIA – Head of Credit and Multi-Asset Investments
  • Kelly Regan – Senior Consultant, Corporate
  • Matthew Ritter, CAIA – Head of Real Asset Investments
  • Elton Thomaj, CAIA – Senior Investment Director, Portfolio Construction

NEPC’s new Principals are:

  • Kelly Bruns – Senior Finance Manager
  • Jason Castonguay – Director, Discretionary
  • Thomas Cook – Senior Consultant, Defined Contribution
  • Tim Fitzgerald, CAIA – Senior Consultant, Defined Contribution
  • Brandon Jones – Senior Investment Director, Portfolio Construction
  • Ashlee Lazzari – Director of Marketing and Communications
  • Heather Martone – Senior Marketing Manager
  • Kevin Novak – Senior Consultant, Healthcare
  • Brian Parnell – Director, Discretionary
  • Keith Stronkowsky, CFA – Senior Consultant, Public
  • Eric Vallo, CFA – Senior Consultant, Healthcare

For NEPC, 2022 has been a year defined by talent expansion. Key highlights include:

  • Former Meketa Partner and Chief Operating Officer Kellie Kane joined NEPC as its new COO in May 2022.
  • In July 2022, NEPC expanded its Corporate Consulting practice group by acquiring a team from Goldman Sachs Asset Management (GSAM).
  • Real estate industry leader Shelley Santulli joined the firm in October, 2022 as Principal and Senior Investment Director, Real Assets.

For more information on NEPC’s employee workforce and to explore open opportunities, click here.

 

About NEPC, LLC

NEPC, LLC, is one of the country’s leading investment consulting firms, servicing 411 retainer clients with $1.4 trillion in assets1 with $301.2 billion in alternative assets2. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net worth individuals. To learn more about NEPC, visit nepc.com.

1 As of 10/1/2022

2 As of 12/31/2021, NEPC provides some form of advice to all clients counted but does not advise all clients on all asset classes.

 

Media Contact:

Laura Nascimento

[email protected]


Federal Reserve building in Washington, DC

NEPC Survey: Majority of Pension Plans See Fed and Soaring Corporate Profit Margins As Biggest Threat to Markets

BOSTON–(BUSINESS WIRE)–NEPC, LLC one of the industry’s largest independent, research-driven investment consulting firms, today announced new data showcasing what corporate and healthcare pension plan sponsors believe are the biggest risks to markets over the next 12 months. The new report also gives insight into how plan sponsors are assessing their glide path and managing their asset allocation against the backdrop of this year’s heightened market volatility.

Plan sponsors overwhelmingly agree that the three biggest risks to markets over the next 12 months are: the Fed’s ability to fight inflation (93%), rising interest rates (79%), and corporate profit margins (57%). Interestingly, geopolitical risk seems to have taken a backseat to these three relatively domestic concerns. Of all respondents, 43% listed geopolitical concerns in Europe as one of the three biggest threats, with only 16% listing geopolitical risk in China as one of their top concerns.

“It’s been nearly a decade since plan sponsors have had to keep factors like rapid inflation and rising rates in mind when rebalancing or determining their asset allocation strategies,” said Bradley Smith, Partner and NEPC Corporate Defined Benefit and Defined Contribution consultant. “With rising concerns about how corporate profits will likely impact the market in the year ahead, our priority right now is helping ensure that our pension and defined contribution clients are well equipped to mitigate risk and have a clear plan of action in 2023 and beyond.”

Other notable findings include the following:

  • The majority of respondents have an established glide-path. 49% of respondents have a one-way (de-risking only) glide path, compared to 16% that utilize a two-way (de-risking and re-risking) glide path. 35% of respondents indicated they are not currently utilizing a glide path.
  • Most plan sponsors are not currently rebalancing back to existing targets. 23% of respondents are only partially rebalancing back to targets, with 21% of respondents delaying rebalancing until the market stabilizes. Only 35% of respondents are rebalancing to existing targets. Notably, 0% of plan sponsors are re-risking.
  • Smaller pensions (less than $1 billion AUM) are more likely to consider a Pension Risk Transfer (PRT). Overall, 15% of respondents are either moving forward with some form of PRT while 21% are considering some form of PRT in the near future. 80% of those respondents considering a PRT say the current market environment has not impacted their views. 77% of pension plans with over $1 billion in assets are not currently considering any PRT activity.

This survey was conducted online by NEPC’s Corporate Defined Benefit Practice in September 2022. For the full results of this survey, click here.

For more information on NEPC’s Corporate Defined Benefit Practice, click here.

 

NEPC, LLC

NEPC, LLC, is one of the country’s leading investment consulting firms, servicing 403 retainer clients with $1.5 trillion in assets1 with $301.2 billion in alternative assets2. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net worth individuals. To learn more about NEPC, visit nepc.com.

 

1 As of 4/1/2022

2 As of 12/31/2021, NEPC provides some form of advice to all clients counted but does not advise all clients on all asset classes.


NEPC Expands Real Assets Team, Hires Real Estate Industry Veteran

BOSTON–(BUSINESS WIRE)–NEPC, LLC, one of the largest independent, research-driven investment consulting firms, today announced that real estate industry leader Shelley Santulli has joined the firm as Principal and Senior Investment Director, Real Assets, effective October 10, 2022.

Santulli brings more than two decades of real estate investment and advisory experience to her new role, and will help NEPC identify and report on emerging investment themes across real asset markets, which include real estate, energy, renewables, natural resources, and infrastructure.

As a part of NEPC’s Real Assets Team, Santulli will be responsible for providing clients with market viewpoints, sourcing investing ideas, conducting manager due diligence, creating educational materials for various real estate and real asset strategies, and advising clients on the implementation of investment strategies.

“It’s only through our best-in-class talent that we’re able to consistently deliver actionable, best-in-class investment ideas to our clients,” said Matt Ritter, CAIA, head of NEPC’s Real Assets Team. “We’re thrilled to be adding yet another experienced leader like Shelley to our team. I know our clients will benefit from her diverse investment experience across markets, property sectors, strategies, investment structures, and market cycles.”

Prior to joining NEPC, Santulli was Executive Vice President, Portfolio Management at American Realty Advisors, where she helped lead the portfolio management and strategy of a diversified, open-end value fund. Throughout her career, she has held several other senior positions in notable investment management firms like Berkshire Group, AEW Capital Management, and Fidelity Investments.

“I’m joining a team that prioritizes delivering research-driven investment solutions tailored to clients’ unique investment goals,” said Santulli. “I have a proven track record of helping institutions navigate turbulent markets, and I’m excited to put that to work for NEPC clients every day.”

Learn more about NEPC’s Real Assets Team here.

About NEPC, LLC

NEPC, LLC, is one of the country’s leading investment consulting firms, servicing more than 400 retainer clients with $1.5 trillion in assets with $301.2 billion in alternative assets. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net worth individuals.

To learn more about NEPC, visit nepc.com.

Contacts

Emma Rayder

[email protected]