New Jersey pension assets up 4.5% to estimated $71.8 billion
By Bloomberg | October 11, 2012 2:31 pm
New Jersey's pension fund assets grew an estimated 4.5% for the quarter ended Sept. 30, to $71.8 billion, according to a state investment council report.
Global growth assets gained 6.1%, followed by income assets, which increased 3%. Risk mitigation was the worst-performing category, gaining 0.3%.
New Jersey's fund managers said they expect higher returns when assets in the police and firefighters system, which lag behind the others, are added to the results.
The funds are managed by the New Jersey Division of Investment, Trenton, which oversees the state's public pension funds.