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.
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