North Carolina Retirement Systems, Raleigh, returned 10.44% for the quarter ended Sept. 30, boosting assets to $65.8 billion, according to spokeswoman Heather Franco.
The return for the first nine months of the year was 12.26%, Ms. Franco said.
The positive returns were being attributed in large part to a rebounding stock market, a news release said. The fund's equity portfolio returned 17.62% for the third quarter, while the fund's fixed-income portfolio returned 5.85%. Equity return year-to-date Sept. 30 was 26.61%, while the year-to-date return for fixed income was 7.14%.
The systems' real estate portfolio lost 7.92% for the quarter and 31.36% year to date Sept. 30, the news release said. Its real estate allocation was less than 6% of the systems' assets as of Sept. 30, while stocks and bonds combined account for nearly 90%.
“Of course, I am pleased to report recent positive returns,” Janet Cowell, state treasurer and the system's sole fiduciary, said in the news release. “However, we remain focused on managing risk and creating value for the long term.”