South Carolina Retirement Systems returns 12.39% for 2012
By Christine Williamson | February 17, 2013 11:00 pm
South Carolina Retirement Systems, Columbia, returned 12.39% net of fees in calendar year 2012, according to a news release from the pension fund's investment commission, which oversees the $26.4 billion pension fund.
The net return was significantly higher than the 11.5% estimate the commission released on Jan. 16.
The 12.39% return translated into $3 billion in investment returns for the pension fund.
South Carolina's 8.2% net annualized three-year return exceeded the fund's 7.5% assumed rate of return and provided investment income of $5.9 billion to the defined benefit plan during the time period.
The South Carolina pension fund's fiscal year ends June 30.