South Carolina Retirement System returns estimated 11.5% for 2012

south carolina capitol 180x
South Carolina Capitol

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.