Perhaps you have heard the terms “alpha” and “beta” when it comes to investing. Beta is the return you get just from being invested in a particular market or index. Alpha is the extra return you earn for making smart investment decisions. Think about it in bike racing terms, beta is how fast the whole pack is moving. Alpha is when a particular rider takes a calculated risk to finish a little bit ahead of the field.

That is the basic logic behind SWIB’s Beta One portfolio. Beta One isn’t simply about getting market beta. It’s about combining that market exposure with active management and the opportunity to generate additional returns for the Wisconsin Retirement System.

In this episode of The SWIB Podcast, Head of Funds Alpha Derek Drummond and Senior Analyst Ryan Johnston explain how the SWIB Beta One portfolio is designed to find additional returns and fit into the overall investment strategy for the pension system.

Each quarter, hear from SWIB staff about the economy, the markets, and how the Wisconsin Retirement System trust funds are impacted.

Learn how SWIB is working to help the Wisconsin Retirement System remain among the nation’s most resilient pension funds – growing and protecting participants’ benefits and giving them peace of mind to focus on work, life, and the future.

In this market update, we welcome Jeff Lucas, a senior portfolio manager on SWIB’s Fixed Income Strategies team, to talk about the issues that impacted the markets through the first quarter of the year and what we might expect as we make our way further into 2026.

Private markets have become an increasingly important part

At their core, private markets include investments that aren’t traded on public exchanges — meaning they’re less liquid and have historically offered investors additional return potential in exchange for that

Private credit now plays a critical role in financing businesses of all sizes, offering flexible, customized solutions that often aren’t available in public markets. But with that growth has come increased scrutiny. Recent headlines have raised concerns about credit quality, liquidity, and how these investments might perform if economic conditions weaken. So, what’s really happening beneath the surface—and how should long-term investors think about the risks and opportunities?

For the Wisconsin Retirement System, private credit is one part of a broader, diversified Core Fund. In this episode, we’ll break down how

In this episode of The SWIB Podcast, senior portfolio managers

Each quarter, hear from SWIB staff about the economy, the markets, and how the Wisconsin Retirement System trust funds are impacted.

Hear how SWIB is working to help the Wisconsin Retirement System remain among the nation’s most resilient pension funds – growing and protecting participants’ benefits and giving them peace of mind to focus on work, life, and the future.

In this market update, we welcome back SWIB’s Head Economic and Asset & Risk Allocation Chief Investment Officer Todd Mattina to talk about the issues that impacted the markets through the first quarter of the year and what we might expect as we make our way further into 2026.

For long-term institutional investors like SWIB, 2025 reinforced the importance of maintaining a diversified portfolio, managing risk carefully, and staying disciplined through market cycles.

Rather than reacting to short-term headlines, the focus remained on fundamentals, valuation, and the long-term objectives of the Wisconsin Retirement System.

In this episode of The SWIB Podcast, we welcome back SWIB Executive Director and Chief Investment Officer Edwin Denson.

We’ll look back at how global financial markets performed in 2025, a year shaped by easing inflation pressures, shifting interest-rate expectations, and continued uncertainty across economies and geopolitics.

Looking ahead to 2026, we’ll discuss the themes SWIB is watching closely — from the trajectory of economic growth and monetary policy to how public and private markets may respond to evolving conditions.

We’ll also talk about where opportunities may emerge, how risks are being assessed, and how SWIB positions portfolios to remain resilient in a range of possible outcomes. Edwin will share perspective on how SWIB approaches uncertainty, balances near-term market dynamics with long-term responsibilities, and continues to invest with a focus on meeting the retirement promises made to Wisconsin’s public employees and retirees.

For decades, SWIB has used the best tools available to generate solid returns and provide stable retirement income for the participants of the Wisconsin Retirement System (WRS). While the tools may have changed over the decades, the mission certainly has not. But now, with the advent of artificial intelligence and large language models, the information landscape is changing faster than ever before.

In this episode of The SWIB Podcast, hear from Cefe Quesada, SWIB’s chief technology officer, and Salah Khalaf, senior portfolio manager, about how SWIB staff is using AI to augment their ability to process information, identify risks, and make decisions, all with an eye to good governance, ethics, and transparency ̶ helping the WRS remain fully funded and well-positioned to deliver on its promise to over 692,000 participants

This is part two in our two-part series about A.I., so don’t forget to check out episode 35 for a grounding in what these tools are, how they work, and what it means for society.

Each quarter, hear from SWIB staff about the economy, the

In this market update, we welcome back SWIB’s Head Economic and Asset & Risk Allocation Chief Investment Officer Todd Mattina to talk about the issues that impacted the markets through the fourth quarter of the

Public pension systems have always balanced two big priorities: delivering secure retirements to members and safeguarding assets

In this first of two new episodes of The SWIB Podcast, Cefe Quesada, SWIB’s chief technology officer, and Salah Khalaf, senior portfolio

Each quarter, hear from SWIB staff about the economy, the markets, and how the Wisconsin Retirement System trust funds are impacted. Hear how SWIB is working to help the Wisconsin Retirement System remain among the nation’s most resilient pension funds – growing and protecting participants’ benefits and giving them peace of mind to focus on work, life, and the future.

In this market update, we talk with SWIB’s Head of Multi-Asset Strategies, Nick Stanton, about the stock market's continued performance despite economic headwinds and what investors might expect in the months ahead.

Each quarter, hear from SWIB staff about the economy, the markets, and how the Wisconsin Retirement System trust funds are impacted. Hear how SWIB is working to help the Wisconsin Retirement System remain among the nation’s most resilient pension funds – growing and protecting participants’ benefits and giving them peace of mind to focus on work, life, and the future.

In this market update, we talk with SWIB’s Head of Funds Alpha Derek Drummond about the issues that have impacted the markets through the first half of the year and what we might expect in the second half of the year.