Managing Partner Jim Scheinberg recently spoke with BenefitsPro about institutional investors, the markets, plan sponsor tips, volatility, and more.
Investors of all kinds are frustrated, dismayed, even afraid during this volatile time caused by the coronavirus pandemic. It’s not any easier for sponsors, advisors, and recordkeepers dealing with multiple challenges on every front. We caught up with Jim Scheinberg, founder and chief investment officer of North Pier Search Consulting, which offers search and evaluation services to institutional investors. With over 30 years of industry experience and having worked with some of the largest institutional investors in the industry, Jim offers perspective on how investors, including institutional investors, are navigating these turbulent times, as well as what advisors and sponsors can do to help participants. See more about him at the end of the Q&A.
BenefitsPRO: How are institutional investors navigating the market during this volatile time?
Jim Scheinberg: Most are staying reliant on their investment policies. Though the speed of the onslaught of the market selloff was faster than most were prepared for, institutions have mostly built their portfolios with the expectation that something of this magnitude could hit.
The only thing that has changed here is that rebalancing has to happen. The question is how and when? With this type of volatility and with liquidity in fixed income thin, this is a challenge.
Are you seeing any change in behavior from, say, last month or last week?
Jim Scheinberg: Most are staying reliant on their investment policies…