Vermont’s state employee retirement fund has lost about $178 million since the beginning of 2000. And more than a quarter of those losses came last month. The losses amount to more than 15% of the fund’s total assets.
The board that oversees the fund grilled the state’s outside investment managers today to determine whether the performance could be improved. During the last fiscal year, Vermont’s state retirement fund lagged behind the performance of other, similar funds. A consultant to the state who helps it grade the performance of the investment managers says there may be improvement due to recent strength in international investment funds.