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August 07, 2019  

Pension Pledges Plunged in Quarter

After plowing an unusually large amount of equity into commercial real estate vehicles in the first three months of the year, U.S. public pension systems significantly scaled back their commitments in the second quarter.Pension systems tracked by FPL Associates pledged $7.6 billion to commingled funds and separate accounts from March through June. That was down 46% from the whopping $14 billion first-quarter total and down 19%...

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