Mar 23, 2012
New Jersey Pension Funds Rise 6.3% Before Payouts to Start 2012
The New Jersey State Investment Council’s pension fund asset rose 6.3% before payouts in the first two months of the year. The gains were buoyed by public equities, with Apple Inc, JPMorgan Chase and Microsoft Corp. amongst the top U.S. stock performers, Bloomberg reports. The funds benefited from a regulatory change allowing cash transfers between common funds and pension funds. In January and February, the division transferred $994 million in “cash drag” to the retirement pool. Read the full story here.