Improving participant outcomes means going beyond the retirement plan.

Second quarter 2025 earnings are off to a solid start. With 12% of S&P 500 companies having reported so far, 83% have beaten both earnings and revenue expectations. The blended year on year earnings growth rate is 5.6% so far. If the rest of the index reports in line with this trend, it will mark the eighth straight quarter of S&P 500 earnings growth, though the slowest since late 2023.

When a familiar growth metric for tech companies called the “Rule of 40” meets our enhanced value framework, the result sets a new bar...

As uncertainty around U.S. trade policy continues to shape the landscape for risk assets, a complex picture emerges for investment grade credit in 2025—but what does the future hold?

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​.