New Jersey’s public pension fund assets dropped 9.9% to an estimated $66.4 billion in the quarter ended Sept. 30, according to a report by the New Jersey Division of Investment, part of the state’s Department of Treasury, Trenton.
The division’s domestic equity portfolio returned -15.88% during the three months ended Sept. 30, the first quarter of the pension fund’s current fiscal year. The international equity portfolio returned -22.76%.
Fixed-income investments gained 8.95% for the first quarter. Hedge fund investments returned -3.01%. Commodity investments subject to daily pricing returned -4.99%.
The report said alternative investments — private equity, hedge funds, real estate, commodities and other real estate — represented 17.93% of the pension fund’s total assets as of June 30 compared to 15.67% as of June 30, 2010. During this period, the allocation to alternatives grew to $13.22 billion from $10.47 billion.
The division’s report was delivered Thursday at a meeting of the State Investment Council, Trenton.
The division manages investments for seven public retirement systems in the state.