RT Journal Article
SR Electronic
T1 Richard Ennis’s Insights: Overexposed? Public Pension Funds Have a Lot Riding on the US Stock Market, Possibly Even More than They Realize
JF The Journal of Investing
FD Institutional Investor Journals
SP 6
OP 9
DO 10.3905/joi.2022.1.221
VO 31
IS 3
A1 Richard M. Ennis
YR 2022
UL https://pm-research.com/content/31/3/6.abstract
AB Despite efforts to diversify internationally, public pension funds in the US have a significant, latent home-equity bias. The home bias takes on added importance in light of the extraordinary valuation level of the US stock market. All in all, public funds are betting heavily on the home market and paying up to do so. Caveat!