On average, the difference between assets and liabilities at U.S. public pension funds, known as the "funded ratio," remains "unsatisfactory" at less than 75%, sovereign investor specialist Global SWF said in a report.
Assets held by sovereign wealth and public pension funds globally rose to a record $31.9 trillion in 2021, thanks to rising U.S. stock and oil prices, and investments rose to their highest for several years, Global SWF said in a previousFor instance the California Public Employees' Retirement System , which manages the largest U.S. public pension fund, grew its assets more than $92 billion in the fiscal year ending in June 2021, according to its 2020-21 financial report.
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