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N.J. public pension investments get some better news

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By Samantha Marcus | NJ Advance Media for NJ.com
on March 29, 2017 at 4:49 PM, updated March 29, 2017 at 4:59 PM

TRENTON — After a year that saw New Jersey’s public worker pensionslose nearly a percent on their investments, state officials reported the fund posted a 8.62 percent gain since the fiscal year began in July.

The $71.6 billion pension fund, which is in the process of slashing its stake in hedge funds, in fiscal 2016 beat the long-term rate of return needed for the system to avoid piling on additional unfunded liabilities.

“It is nice to be able to report on a period that offers good news,” Tom Byrne, chairman of the State Investment Council said Wednesday, noting that the pension fund “remains prudently diversified.

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