North Carolina Retirement Systems, the ninth-largest public pension fund in the United States, saw gains of 6.38 percent in the second quarter of 2020.
“We’ve maintained the conservative investment strategies of previous state treasurers, allowing us to minimize losses during the down market, and to also see substantial gains when the market rebounded,” said state treasurer Dale Folwell in a statement. “We don’t have a crystal ball and we don’t gamble with the money of those who teach, protect and otherwise serve the people of North Carolina.”
Additionally, fund levels as of Aug. 14 were $107.3 billion, exceeding the fund’s 2020 high of $106.9 billion in February prior to the COVID-19 economic shutdown.
North Carolina’s investment management division manages the assets of the Teachers’ and State Employees’ Retirement System, in addition to five other state funds. The division has mandates to both core and non-core real estate.
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