The state pension fund is down 6.61 percent for the fiscal year through February, officials said March 23, in large part because of a volatile stock market. That’s .94 percent worse than benchmark and well below the fund’s initial target for the fiscal year, which called for a 6.86 percent return on investment, according to documents from the state Division of Investment.
The fund was down 5.05 percent for the trailing 12 months, slightly beating benchmark. In the first two months of the calendar year, the fund was down 3.73 percent, worse than the benchmarked negative 3.08 percent. Over the last three years, the pension fund portfolio has made a 5.04 percent return on investment, a full 1 percent ahead of benchmark. The figures were released at the State Investment Council’s meeting in Trenton.
Source: PoliticoPro