The North Carolina pension fund reported a 2 percent gain on investments in the first quarter that was largely driven by the performance of its stock portfolio.
The state Treasurer’s office reported Friday that the pension fund, which provides retirement benefits for more than 900,000 state employees and teachers, had $89.95 billion in assets at the end of the first quarter. That’s up from $88.8 million three months earlier.
Investments in stocks, which accounts for 44 percent of the fund, rose 2.8 percent in the latest quarter. Over the past year, the stock portfolio has risen 5.1 percent.
Investment-grade bonds, which account for 29 percent of the portfolio, rose 1.8 percent. Over the past 12 months, the bond portfolio is up 4.6 percent.
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Private equity investments rose 2.6 percent in the quarter and are up 5.6 percent for the past 12 months. Inflation-sensitive investments fell 4.2 percent in the quarter and are down 9.1 percent for the year.
Core real eastate rose 2.5 percent in the quarter and is up 6.4 percent over the past 12 months. Non-core real estate rose 3 percent in the quarter and is up 12.4 percent over the past 12 months. Core real estate rose 2.5 percent in the quarter and is up 6.4 percent over the past 12 months.
Treasurer Janet Cowell oversees the pension fund, which is the nation’s tenth-largest public pension fund.