New Jersey clocks -2.47% return for the fiscal year amid coronavirus challenges

The $75 billion New Jersey Pension fund has disclosed a return of –2.47 percent for the fiscal year ending April 30, according to a recent investment report. The pension fund was targeting a net return of 0.72 percent.

According to the report, the real estate portfolio posted a net return of 1.56 percent for the fiscal year, against a benchmark of 3.15 percent.

The New Jersey Division of Investment, under the supervision of the State Investment Council, is one of the largest pension fund managers in the United States, responsible for the investment management of the seven pension funds that comprise the New Jersey Pension Fund and the State of New Jersey Cash Management Fund.

These public pension systems include the Consolidated Police & Firemen’s Pension Fund, the Judicial Retirement System, the Police & Firemen’s Retirement System, the Prison Officers Pension Fu