Over the past few months, voice of the client has been largely missing from the ongoing discussion about the root causes and cures for the financial crises. In this report, Cyrus Taraporevala, Executive Director, North American Institutional Sales, Client Management and Marketing of BNY Mellon Asset Management, pens an imaginary letter outlining some of the pressing concerns expressed by a number of our institutional clients.

Cyrus describes how corporate pension plans are wrestling with the problem of being underfunded in the wake of the market’s slide, which may require companies to increase cash contributions to their plans. Additionally, a broad range of institutional investors are struggling with diminished cash flow and illiquid fixed income portfolios. The upshot could be a growing number of plan terminations and the potential for more pension obligations in the lap of taxpayers.

For more information or a hard copy please contact, please contact David Zigas at 617 248-6202.

The preceding information is based upon the analysis of historical performance of various asset classes and assumptions with respect to future economic conditions. Past performance is not an indication of future results. This information is not intended to provide specific advice, recommendations or projected returns of any particular BNY Mellon Asset Management  product.