Garden State Pension Fund Down 3.1% in FY08

July 16, 2008 (PLANSPONSOR.com) - Assets in New Jersey's state pension fund dropped by 3.1% during the recently completed fiscal year, pension officials reported.

Division of Investment director William Clark said the state has diversified investments in the $77-billion fund away from its historic concentration on equities and bonds.

“Expressed in dollars, this means that the portfolio would have a current value of only $74.8 billion, or $2.9 billion less than the estimated June 30, 2008, market value,” Clark told Gannett News Service.

According to the state, other fiscal year-end return data included:

  • Domestic Equity Portfolio: -10.38%
  • Domestic Fixed Income Portfolio: 8.88%
  • International Portfolio: -7.54%

The state’s pension investments grew by 17% in the fiscal year ending in June 2007. Over the past five years, it has averaged a 9.1% growth.

itxtvisited=”1″>The data is available¬† here .

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