FOR IMMEDIATE RELEASETreasurer Cowell Reports Third Quarter Pension Fund Returns
Raleigh, N.C. -- State Treasurer Janet Cowell reported today that North Carolina’s pension fund returned 9.4 percent for the 12 month period ending September 30, 2014, and lost 1.0 percent for the third quarter of 2014. Pension fund assets were valued at $88.4 billion at the end of the quarter, down from $90.1 billion at the end of the fiscal year.
"North Carolina's pension continues to be solid and that’s good news for the families depending on it,” Treasurer Cowell said. “The big stock market gains we’ve seen in the past year are leveling off, but our diversification efforts should create stability in the pension fund over the long-term.”
A few highlights: the pension fund’s public equity (stock) portfolio, which comprises 43 percent of the fund, was down 2.9 percent for the quarter and gained 10.9 percent for the year. Private equity gained 1.8 percent for the quarter and 17.5 percent for the year. Non-core real estate gained 4.7 percent for the quarter and 17.9 percent for the year. Investment grade fixed income, which comprises 30 percent of the fund, gained 0.4 percent for the quarter and 5.9 percent for the year. See the report
for a full reporting of all asset classes. The report reflects the new Investment Policy Statement, which was updated in July 2014. The new Investment Policy Statement was developed with input from the Investment Advisory Committee and incorporates strategic considerations for the total fund and individual asset classes. View the NCRS Quarterly Update
The North Carolina Retirement Systems, the formal name for the pension fund, is the tenth largest public pension fund in the country. It provides retirement benefits and savings for more than 900,000 North Carolinians, including teachers, state employees, firefighters, police officers and other public workers. For more information, visit www.nctreasurer.com