Updated with correction
Wisconsin State Investment Board, Madison, announced its $73.5 billion Core Fund had a preliminary return of 12.3%, topping its benchmark by 0.2 percentage points, while its $5.6 billion Variable Fund returned 15.6% for 2010, besting its target benchmark by 0.3 percentage points.
“While U.S. stocks ended with a strong performance, uncertainty about economic recovery continues,” Keith Bozarth, executive director, said in a news release from the board. “Housing remains weak and the unemployment level remains high in the U.S. In addition, concerns over the global credit markets remain.
“A change in direction for those factors would be a positive sign for improved economic growth.”
Spokeswoman Vicki Hearing could not immediately be reached for comment.