South Carolina Retirement System returns estimated 11.5% for 2012
By Christine Williamson | January 16, 2013 9:08 am
South Carolina Retirement System, Columbia, returned an estimated 11.5% for calendar year 2012, according to a news release from the pension fund’s investment commission, which oversees the $26.4 billion fund.
The return translated into $2.8 billion in investment returns for the pension fund.
The pension fund’s estimated 8.1% annualized three-year return exceeded the fund’s 7.5% assumed rate of return and provided investment income of $5.8 billion to the defined benefit plan.
Hershel Harper, chief investment officer, cautioned the pension fund’s returns and assets are estimated but added “our estimates have proved reliable, and I expect minimal deviation in the final numbers,” according to the release.