The North Carolina pension fund reported a 3.5 percent gain on investments in the third quarter fueled by the performance of its stock portfolio.
The third-quarter performance boosted the fund’s investment gains to 8.4 percent over the past 12 months and 6.4 percent for the first nine months of 2016. The office of state Treasurer Janet Cowell, who is in charge of the pension fund’s investments, issued the third-quarter results on Monday.
Investments in stocks, which comprise more than 40 percent of all investments, rose 5.7 percent during the quarter. Among other investments, investment-grade bonds, which account for more than one-fourth of the portfolio, rose six-tenths of a percent; private equity investments rose 2.5 percent.
Investment gains are calculated after deducting fees and expenses.
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Total assets for the pension fund, which provides retirement benefits for more than 900,000 teachers and state employees, totaled $89.8 billion at the end of the third quarter – up from $87.6 million at the end of the second quarter.