"State pension fund grew 18% in 2009" by Beth Healy, Globe Staff | February 2, 2010
The Massachusetts state pension fund grew 18 percent in 2009, or by $5 billion, as the market rebounded late in the year.
WTF?
The gains in the latter half of 2009 helped offset one of the worst periods in the $42.7 billion fund’s history.
How com your crappy pension didn't do so well, American?
The pension fund lost 23.6 percent, or nearly $13 billion, in its fiscal year ended June 30, placing it among the worst performers in its league.
The recent gains were driven by investments in high-yield bonds, bank loans, and stocks, which all outperformed the 23 percent rise in the Standard & Poor’s 500 index of stocks.
Oh, the same risky behavior that lost 'em a pile when the market tanked, great.
Don't you EVER LEARN, Massachusetts?
The Pension Reserves Investment Trust’s ranking rose to the 28th percentile of large public pension funds for the calendar year.
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