Pension Rebalancing Threatens to Spur $26 Billion Equity Selloff [Business News Network (BNN) (Canada)]
Credit Suisse Group American Depositary Shares (CS)
US:NYSE Investor Relations:
credit-suisse.com/corporate/en/investor-relations.html
Company Research
Source: Business News Network
Every quarter- and month-end, pension funds and other institutional investors check their market exposures to make sure they meet strict allocation limits between equities and bonds, as well as between domestic and international stocks. Even amid a global rout, US equities still outperformed many other asset classes, leaving portfolio managers needing to cut their exposure. When September wraps up, pension funds could be done selling roughly $26 billion in equities thanks to that relative outperformance, according to a Credit Suisse Group AG model. That's bad news for anyone who'd hoped buying from that past source of support could act as a lift this time around too. In the last two quarters, the rebalancing by the world's biggest money managers revived equities by bringing $250 billion into stocks in June and $230 billion in March, according to estimates by JPMorgan Chase & Co. The S&P 500 lost as much as 2.7% on Thursday as market sentiment soured amid concerns about inflatio
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