TRENTON, NJ – The New Jersey Pension Fund today released its final returns for Fiscal Year 2014, which ended June 30, 2014. During the fiscal year, the New Jersey fund produced a positive return of 16.9 percent.
Fiscal Year 2014 was the fourth consecutive year in which the Fund outperformed the market benchmark for a fund with identical asset allocation to that of New Jersey. The fund also outperformed the assumed rate of return of 7.9 percent, set by the State Treasurer, generating over $13 billion in gains, or $7 billion more than projected based on the assumption rate for the Fiscal Year.
As of June 30, 2014, after paying out approximately $7.9 billion to beneficiaries during the fiscal year, the fund’s balance stood at approximately $80 billion.
The best performing asset class for the pension fund for the year was Private Equity, which returned 26.3 percent. U.S. and Developed Non-US Equity returns were strong, up 26.2 percent and 23.3 percent respectively. Opportunistic Credit, up 18.4 percent, and Real Estate, up 17.0 percent, also contributed to the Fund’s double digit return.
The New Jersey Division of Investment will report the performance gain to the State Investment Council during its Regular Meeting on Sept. 16, 2014.