>New Jersey’s pension fund falls 7% in 3rd quarter
New Jersey’s pension funds climbed nearly 18 percent through June, then fell back along with the global slide in stock prices, according to a state report released Thursday.
The report by the state Division of Investment showed that the pension fund was led by the 32 percent gain in its investments in U.S. stocks through the end of the fiscal year, June 30. That was followed by a 25.6 percent gain in its international stock holdings.
But the pension fund in total has dropped nearly 7 percent through Sept. 30, to $66.4 billion.
Timothy Walsh, the director of the Division of Investment, told a board overseeing the pension funds that “all cylinders were firing,” in the fiscal year that ended in June, as all areas where the fund invested money had gained. (Method, Gannett)
