The Virginia Retirement System, Richmond, reported a return of 18.2% for the year ended June 30, bettering the 17.1% the fund earned the previous year. The pension fund's assets have now hit $22 billion.The fund also hired Pamela J. Thomas as manager of international equities, a new position. Ms. Thomas had been a portfolio manager for international equities at GE Investments. She will head a program to invest up to 10% of the fund's assets in international stocks, and another 5% in emerging market stocks.
At GE, she's been replaced by Peter Gillespie, an equity analyst who has been promoted to portfolio manager, said Geoffrey R. Norman, executive vice president.
