Emerging-Market Tremors Rattle Tennessee’s Public Pensions

By Anonymous

After expanding its emerging-market investments in recent years, the state’s retirement system increasingly registers volatility overseas

The troubles hammering developing economies are reverberating as far as Tennessee, where the state’s retirement system is the biggest shareholder of a dozen exchange-traded funds that buy stocks in those markets.

The rout has exposed the difficulties facing U.S. public pensions, many of which have embraced riskier assets in recent years hoping to boost returns.