US - The Indianapolis-based Public Employees' Retirement Fund (PERF) has seen its assets grow US$1.3bn over the last year.
In the tax year ending 30 June, 2006, PERF's assets under management grew to $14.6bn and its investments delivered a return of 10.4%, beating both the benchmark of of 9% and the targeted actuarial rate of return of 7.25%.
PERF executive director, David Adams, said that the 2006 results corresponded to a long term strategy to "manage risk through responsible diversification of the fund's investments."
Commenting on the results, Doug Kryscio, principal at Mercer Investment Consulting said: "PERF's growth in assets under management demonstrates the strong overall health of the plan. Their investment performance stands up well in comparison to many public pension plans in the nation."
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