Expert portfolio risk analysis
Economic scenarios and portfolio stress testing for those entrusted with protecting long-term capital.
Get in touchDifficult markets expose risks that ordinary conditions can leave unseen.
Understand how your portfolio responds when conditions change, where vulnerabilities lie, and what shapes its resilience.
Independent analysis for the decisions and responsibilities that matter.
Across the ten largest US public pension portfolios, simulated average annual returns remain positive under bond-market stress but fall 49 basis points below the base regime. CalPERS and Texas TRS show the largest declines, while allocation and bond tenor together help explain differences in resilience.
Research and insight for decisions that matter.
