N.J.’s Pension Fund Had Best Return in 12 Years, Grady Says
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New Jersey’s pension system gained about 18.5 percent in the fiscal year ended June 30, its best performance in more than 12 years, said Robert E. Grady, chairman of the state’s Investment Council.
The funds, with $74.7 billion in assets as of May 31, underwent a “tactical shift” in their investing about nine months ago that included reducing fixed-income holdings and adding U.S. stocks, Grady said in an interview today with Bloomberg TV at the Rocky Mountain Economic Summit in Jackson Hole, Wyoming.