US - New York state pension funds achieved an annualised return of 8.4% for the 10-year period ended June 30, 2006, comptroller William Thompson announced today.
In the Comprehensive Annual Financial Report for FY 2006, Thompson said funds had increased their allocations to real estate and private equity as part of a strategy to increase investment in longer term, less liquid securities.
"In addition, they decided to invest a portion of their fixed-income securities in inflation-linked treasury securities," said Thompson.
The new policies were designed to increase the diversification of the assets by reducing the funds’ concentration of assets in US equity securities.
Thompson also announced that New York City had ended the year with a surplus of $5m overall.
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