North Carolina’s pension fund, dragged down by its stock portfolio, posted a 1 percent gain on investments in the first quarter.
The $86.73 billion pension fund, which is overseen by state Treasurer Janet Cowell, also reported Wednesday that its investments have posted a loss of seven-tenths of a percent over the past 12 months.
Over the last five years, the pension funds has generated an annualized gain of 5.9 percent.
In the latest quarter, investments in stocks, which account for 43 percent of the fund, fell one-tenths of a percent. Stock investments are down 4 percent over the past year.
Investments in investment-grade bonds, which makes up 28 percent of the fund, rose 3.3 percent during the quarter.
Also during the quarter: private equity investments rose 1.8 percent; non-core real estate rose 3.4 percent; and opportunistic fixed income fell 2.6 percent.
The state pension fund, the 10th-largest public pension fund in the nation, provides retirement benefits for more than 900,000 state employees, teachers and other public employees.