US - The Missouri State Employees' Retirement System (MOSERS) posted returns of 16% in 2010, ending the year with nearly $7.7bn in assets.
The net investment returns mark the second straight calendar year of double-digit gains for the public pension fund. MOSERS investments have generated $2.9bn since the fund's low point in March 2009, for a cumulative return since then of nearly 50%.
"The MOSERS board is committed to a resilient long-term investment programme, and has established investment policies in order to manage risk and take advantage of investment opportunities in a fiscally responsible, efficient and transparent manner," said MOSERS' executive director Gary Findlay.
In 2010, the fund's public equity programme returned 16.5%, the public debt portfolio returned 11.4% and the alternative investments returned 19.6%.
"It was a strong absolute year for the fund and just as importantly it was a strong year of value added", said chief investment officer Rick Dahl.
"We outperformed our benchmark by 3.8%, generating, approximately, an additional $262m in earnings which will keep contributions from the state down, helping to relieve pressure on the state budget."
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