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NC public pension funds grow during third quarter


RALEIGH, NC (AP) -- North Carolina's public employee pension funds reported a nearly 8 percent return during the third quarter compared to a loss in the previous three months.

State Treasurer Janet Cowell said Monday the pension assets grew from $65 billion to nearly $70 billion for the three months ending Sept. 30. For the three months ending in June, the funds reported a loss of 4.25 percent.

Third-quarter growth was buoyed by a 13 percent return on stocks and more than 4 percent on bonds. Real estate holdings also had positive returns. Alternative investments designed to protect money from inflation performed poorly.

The pension funds have generated a 6.75 percent return during 2011.

Cowell invests for more than 820,000 public workers and retirees in North Carolina.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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