Educational Pension Fund Nets $300M Gain
New Mexico – SANTA FE, N.M. (KRWG) The New Mexico Educational Retirement Board reports the state's retirement fund for teachers and other educators gained more than $300 million during the last quarter.
The pension fund experienced a 3.8 percent return on its investments from January through March.
The fund was valued at nearly $9.5 billion at the end of the last quarter and had mostly recovered from losses because of a market downturn that started in 2007.
Pension assets had a market value of almost $9.6 billion in September 2007.
Over the past year, the fund had a return of nearly 14 percent and gained more than $1 billion. The fund has a five-year annualized return of 4.8 percent.
Copyright 2011 The Associated Press. KRWG