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N. Carolina Pension Increases Alt. Investments

Jul 29, 2013
Jing Chen

The North Carolina Retirement Systems has won final legislative approval to increase its alternative investment assets.

Pensions & Investments reported that the Senate voted 43-3 on Thursday to approve the legislation and is now pending the governor’s signature. The new legislation allows the pension fund to raise its total alternatives allocation to 35% from the current 34%, which includes a 8.5% limit to hedge fund investments.

Janet Cowell, the pension fund’s trustee who initiated the legislative change, explained that the increased allocation to alternative investments “improves [the pension’s] ability to protect and grow while keeping its long-term cost to the taxpayers at a reasonable level.”

The pension fund currently manages approximately $81.1 billion for North Carolina’s employees.

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