North Carolina gains 6.38% in Q1

North Carolina Retirement Systems, Raleigh, returned 6.38% in the first quarter of 2012 and 5.15% for the year ended March 31, state Treasurer Janet Cowell reported Friday.

Assets reached $75.9 billion as of March 31, up from $71.8 billion at the end of 2011, according to a news release from the treasurer.

All asset classes reported investment gains during the quarter, led by equities at 13.02%, credit strategies at 3.7% and real estate at 3.4%.

The one-year performance figures were led by fixed-income returns of 10.65%, alternative strategies at 7.92% and equities at 0.28%.

The retirement system's allocation is 45.43% equities; 35.38% fixed income; 7.39% real estate; 4.86% alternatives, largely private equity; 3.89% credit strategies; and 3.05% inflation strategies.

— Contact Hazel Bradford at hbradford@pionline.com | @Bradford_PI