Executive Summary

This report provides detailed information from institutional investors in the U.S. on return expectations, funding ratios, and much more.


Greenwich Associates’ 47th annual research with U.S. Institutional Investors is based on in-depth interviews conducted primarily through in-person interviews, and supplemented by telephone interviews and online surveys, between July and October of 2018.

Respondents include 1,128 individuals from 924 of the largest tax-exempt funds in the United States. These U.S.-based institutional investors are corporate and union funds, public funds, and endowment and foundation funds, with either pension or investment pool assets greater than $150 million.