N.J. Pension Fund Posts 13.3% Gain for 2012, State ReportsElise Young
New Jersey’s public-pension fund, the 12th largest of its kind in the U.S., gained 13.3 percent for the year ended Dec. 31.
The State Investment Council released returns, minus those for police and firefighter funds, today at its annual meeting in Trenton.
Chairman Bob Grady described the funds, with $71 billion in assets, as on “far sounder” footing than in recent years as a result of measures signed by Republican Governor Chris Christie in 2011, and canny strategy by the fund’s overseers. Grady said 2012 was “a good year.”