|
Columbia
–
Today
State
Treasurer Grady Patterson announced that the SC Retirement System has
been ranked #1 by a leading trade publication, Pensions
& Investments, in the one year and
three year returns category.
South Carolina
’s pension fund is valued at more than $21 billion.
Pensions & Investments
polled 72 public pension funds from across the country.
The funds range in size from more than $140 billion to slightly
less than $800 million. Most
returns from these pension funds are within the median total return for
public pension funds, as compiled by the Wilshire Associates’ Trust
Universe Comparison Service.
South Carolina
’s return on pension investments is the only positive
return. The industry
average as calculated for a 12 month period is -5.82%.
Pensions & Investmests
(P&I) said “
South Carolina
was the only public fund among those surveyed by P&I that managed to eke out a positive return.
It did so based largely on its 73% allocation to fixed-income
investments.”
The State Treasurer directs investments in fixed-income for the
pension fund and other state investments.
Patterson complimented the agency on doing a fine job.
He said, “our committed, dedicated, and efficient staff do a
tremendous job investing state funds.
This is a confirmation of the practices we employ across the
spectrum for investing in this office.”
##
A
copy of the Pensions &
Investmests article can be obtained by calling the Office of State
Treasurer at 803-734-2665. |
