State pension fund up 15%

There’s a new president in the White House, vaccines are rolling out across the country and Hawaii’s largest pension fund is on track to achieve its best fiscal year in a decade as it takes aim at whittling away at a $14.6 billion shortfall.

Fueled by a 9% investment increase in the October-December quarter, the state Employees’ Retirement System fund reached the midpoint of its 2021 fiscal year with a 14.8% gain, according to a new report presented to ERS trustees by investment adviser Meketa Investment Group. That number is on pace for the best performance since a 17.4% return in full-year fiscal 2014, and puts the fund on track to eclipse the 20.7% return that it chalked up in fiscal 2011. Assets, which include contributions and disbursements, rose more than $1.5 billion during the quarter to an all-time high of $19.56 billion.

https://www.staradvertiser.com/2021/02/15/hawaii-news/state-pension-fund-up-15/