US - The US$48.5bn Virginia Retirement System (VRS) achieved a 12.4% return on its investment portfolio for fiscal year 2006, comfortably beating its benchmark of 11.8%.
The VRS said returns were largely driven by its private equity (28.6%) and real estate (23.4) investments. VRS also achieved a 15.3% return in public equity and 5.3% in credit strategies. Fixed in...
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