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Article: North Carolina's Pension Fund Does Well despite Losses, Treasurer Says.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 4, 2002
CopyrightCOPYRIGHT 2002 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 Rob Christensen, The News & Observer, Raleigh, N.C. Knight Ridder/Tribune Business News
Jan. 4--Like owners of 401(k) plans and other private investments, North Carolina's pension fund lost money during last year's stock market fall -- nearly $7 billion, in fact -- but still performed much better than other public pension funds throughout the country.
The fund's value dropped to $52 billion as of Sept. 30, compared with $59 billion a year earlier.
But the North Carolina fund's performance was among the top 25 percent of public pension funds in the country, thanks in large measure to a conservative and diversified investment strategy followed ...