NC pension funds gains 2.24 percent

05/22/2014 4:02 PM

02/15/2015 11:22 AM

Across-the-board gains in the North Carolina pension fund portfolio added up to returns of 2.24 percent in the first quarter.

Over the last 12 months, the pension fund has enjoyed a 10.88 percent return — ahead of its target rate of 7.25 percent, the Department of State Treasurer announced Thursday. Treasurer Janet Cowell is in charge of investing the fund’s assets.

The pension fund’s assets totaled $87.4 billion at the end of March, up from $83.1 billion as of Dec. 31. The pension fund provides retirement benefits for more than 900,000 workers, including state employees and teachers.

Investments in stocks, which account for 47 percent of the pension fund’s assets, rose 1.38 percent in the quarter. The fund’s stocks have risen 19.46 percent over the last year.

Fixed-income investments such as bonds rose 2.88 percent in the quarter. Over the last 12 months, however, fixed-income investments have declined 0.46 percent. Fixed-income investments comprise 31 percent of the portfolio.

Real estate investments rose 3.36 percent and alternative investments, such as hedge funds and private equity, rose 3.48 percent in the latest quarter.

Returns are calculated after fees to money managers are deducted. Last fiscal year, fees amounted to 0.52 percnt of the fund’s assets.

Join the Discussion

News & Observer is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service