Hawaii pension system reports major portfolio gain

AP News
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Posted: Nov 10, 2009 5:20 PM

The investment portfolio for the Hawaii Employees' Retirement System continues to soar.

The pension fund's trustees have been told the value of the portfolio increased by $945 million during the third quarter. That follows a nearly $700 million gain in the three months ended June 30.

As of the end of September, the pension fund for state and county workers stood at about $9.8 billion.

Neil Rue, a managing director of ERS adviser Pension Consulting Alliance Inc., said Monday that was $108 million less than where it was a year ago as investment markets tumbled.

ERS Chief Investment Officer Rod June says the third quarter was probably one of the best quarters the fund has seen in years.