In many ways, fund managers haven’t had it this bad in a long while.
With stocks having had a tumultuous start to the year and inflation raging like a tempest, foundations, endowments and pension funds face a double whammy. Not only do they need to generate enough returns to match their annual spending rate but also make up for purchasing power that’s been corroded by prices spiraling up, up and away like a helium-filled balloon.
