Pension Fund Overview
The Investment Management Division manages assets of the Teachers’ and State Employees’ Retirement System, the Consolidated Judicial Retirement System, the Firemen’s and Rescue Workers’ Pension Fund, the Local Governmental Employees’ Retirement System, the Legislative Retirement System, and the North Carolina National Guard Pension Fund.
Asset Classes
| Portfolio | Investment Mandate | Examples |
|---|---|---|
| Investment Grade Fixed Income | Long Term Investments | Investment grade corporate securities, treasuries, agencies, and asset-backed securities |
| Public Equity Investment Portfolio | Equity Securities | Exchange traded securities managed by experienced equity investment professionals |
| Real Estate Core Investment Portfolio | Real Estate | Limited partnerships*, investment management agreements and real estate investment trusts managed by experienced real estate advisors |
| Real Estate Non-Core Investment Portfolio | Real Estate | Limited partnerships* and real estate investment trusts managed by experienced real estate advisors |
| Private Equity Investment Portfolio | Private Equity | Limited partnerships* managed by experienced equity advisors |
| Opportunistic Fixed Income Investment Portfolio | Opportunistic Fixed Income | A diversified mix of credit focused investment vehicles managed by experienced investment advisors |
| Inflation Sensitive Investment Portfolio | Inflation-Linked Investments | A diversified mix of inflation-linked investment vehicles managed by experienced investment advisors |
| Multi-Strategy Investment Portfolio | Tactical | A diversified mix of investment vehicles that serves as an uncorrelated strategy to diversify the plan’s risk managed by experienced investment advisors |
| Cash Management Investment Portfolio | Short-Term Investments | Internally managed portfolio of highly liquid fixed income securities; primarily money market instruments and short to intermediate treasuries and agencies |
* Limited Partnerships are the standard vehicle for investment in private equity and real estate funds with a main purpose of buying interests in investments that, in general, are not publicly traded. The partnership has a General Partner whose responsibilities include making, monitoring and ultimately exiting investments to generate returns on behalf of the investors. The investors are known as Limited Partners.