Improving participant outcomes means going beyond the retirement plan.

Highlights from the week of July 11 – July 17, 2025.

Better-than-anticipated economic data reduced rate cut expectations, but markets continued their year-to-date advance.

Voya launched one of the first target date funds to prepare individuals for retirement. On its 20-year anniversary, we reflect on the journey and look ahead.

After a volatile start to the year, we see opportunities as markets focus on President Trump’s deregulatory agenda, tech’s unrelenting rise, and Europe’s defense surge.

It appears that new tariffs are starting to affect consumer prices. In the June inflation report, headline CPI accelerated to 2.7% over the prior 12 months, up from 2.4% in May. Core CPI (which excludes food and energy) rose 2.9%, the fastest pace since February. On a monthly basis since May, the headline index increased 0.3% while core rose 0.2%.

​​Recent liquidity events related to portfolio companies in which PIF invests through its private equity holdings​.

As investors wait for additional clarity on trade and fiscal policy, we offer six themes we think will drive fixed income markets in the second half of the year.

Separately managed accounts (SMAs) have been around for over 50 years. Here’s what you need to know to determine if one is a good fit for your clients.

Equities and bonds fell as the market digested the reconciliation bill and a new tariff deadline.