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December was a negative month for Pension plans as liabilities (BofA Mature 12 year duration index) outperformed assets (60% ACWI/40% Barcap Agg) by 1.2%. The 1.2% difference was the third smallest monthly move this year.
Return seeking assets were down -1.2% continuing the slide that started in November. Assets trailed liabilities by 1.2% for the year. There were six volatile monthly moves in funded status during the first ten months of the year. The last two months for funded status volatility was subtle relative to the rest of the year.