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Massachusetts Officials Debate Ways to Manage Pension Fund.
- Article from:
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Knight Ridder/Tribune Business News
- Article date:
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October 4, 2003
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Copyright informationCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By David Dagan, The Sun, Lowell, Mass. Knight Ridder/Tribune Business News
Oct. 4--The state's pension fund will bring home some of its $28 billion investment power with a new program intended to spur business and housing development in Massachusetts, while continuing to aim for good returns.
A strategy for "economically targeted investments" (ETIs) recently approved by the fund's board could steer up to 2 percent of its $28 billion in assets -- some $550 million -- into the state's economy, with an emphasis on sectors that have had trouble attracting capital.
The first likely step will be the deposit of $200 million to $500 million in general Treasury ...
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