For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
Administration September 29, 2011
Public Pensions See Assets Grow in Second Quarter
September 29, 2011 (PLANSPONSOR.com) – U.S. public pension fund assets grew 17.6% in the second quarter from a year earlier, reports Bloomberg.
Reported by Tara Cantore
According to the news report, the U.S. Census Bureau reports that assets of the 100 largest public-worker pension plans rose to $2.77 trillion by the end of June from $2.36 trillion a year earlier. The gains were driven by increases in U.S. stocks, corporate bonds, and international securities.
The advance pushed the assets to their highest level in three years, Bloomberg said.
The pension funds earned $51.4 billion on investments during the second quarter, while employee and government contributions also rose. Compared with the first quarter of this year, the assets were up by 1.3%, the worst performance since they slipped during the second quarter of 2010, according to the Census Bureau.
« Investment Managers Say U.S. Economy not Entering Double-Dip Recession