Private Equity
Disappointing public pension investment fund returns released recently by Virginia and Maryland may be indicative of a more nationwide trend, pension experts warned. The two mid-Atlantic states had public pension plan returns of more than five percentage points less than their assumed levels for fiscal 2016, which ended on June 30. Pension experts attributed those less-than-expected levels to low interest rates and lower inflation than in past years. Still, the returns exceeded long-term estimates.