New Jersey Division of Investments assets under management fell $5.3 billion in September, a 7% decline from a month earlier, because of turmoil in global markets, which translated into a 9% decline for the first quarter of fiscal 2009.
Pension assets stood at $70.7 billion on Sept. 30, said Thomas Bell, spokesman. The division had $76 billion in pension assets at the end of August and $77.7 billion on June 30, the end of the fiscal year.
In its August report, the division said that estimated performance for the pension funds for the fiscal year-to-date period through Aug. 31, 2008 is -0.94% vs. -2.21% for the benchmark.
As of Sept. 30, New Jersey pension funds had $21.3 billion in U.S. equity and $13.8 billion in foreign equities, $19.7 billion in U.S. fixed income, $10.2 billion in alternative investments as well as $4.3 billion in cash and $1.4 billion in other investments, described as police and fire mortgages.