North Carolina reports 13.5% return in 2017

North Carolina Retirement System has reported gains of 13.5 percent for calendar year 2017, outperforming its benchmark of 12.8 percent, State Treasurer Dale Folwell announced.

Pension fund assets were valued at $98.3 billion, up from $89.1 billion at the end of 2016.

“We are very pleased to see these gains at a time when the pension fund as a whole had less exposure to risk,” said Folwell.

The pension plan is managed by the N.C. Department of State Treasurer.

Public equity, which makes up almost 40 percent of the total fund, gained 24.4 percent, while private equity rose 12.0 percent. Noncore real estate and opportunistic fixed income returned 12.4 percent and 7.1 percent, respectively.

The multi-strategy portfolio rose 13.6 percent for the 12-month period and inflation-sensitive and diversifier investments increased by 8.6 percent. Investment-grade fixed income earned 4.4 percent.

Folwell and the investment management team cut costs s