NC treasurer touts pension fund investment vehicle - WNCN: News, Weather

NC treasurer touts pension fund investment vehicle

Posted: Updated:
RALEIGH, N.C. -

The official responsible for overseeing $80 billion in pension funds for North Carolina employees and teachers is touting a plan that invests in companies with state ties.

State Treasurer Janet Cowell on Tuesday visits a Raleigh company that develops mobile applications. It received an investment originating with the $230 million Innovation Fund.

Cowell got permission to use the small slice of pension funds to invest in businesses with significant North Carolina operations and also earn strong returns for the pension fund. Cowell says the Innovation Fund is another way to generate the investment returns needed to make sure the state can pay all pensions promised to more than 875,000 retired workers.

Credit Suisse manages the money and selects outside investment firms to pick individual companies.

  • North Carolina NewsMore>>

  • Missionary groups call for evacuation from Liberia

    Missionary groups call for evacuation from Liberia

    Tuesday, July 29 2014 8:19 PM EDT2014-07-30 00:19:57 GMT
    Dr. Kent Brantly of Samaritan’s Purse cares for a patient at the case management center on the campus of ELWA Hospital in Monrovia. (Samaritan's Purse)Dr. Kent Brantly of Samaritan’s Purse cares for a patient at the case management center on the campus of ELWA Hospital in Monrovia. (Samaritan's Purse)
    Two North Carolina-based missionary groups have ordered the evacuation of their non-essential personnel from Liberia after a doctor and a missionary contracted Ebola.
    Two North Carolina-based missionary groups have ordered the evacuation of their non-essential personnel from Liberia after a doctor and a missionary contracted Ebola.
  • Officials: Jail escapees held detective at gunpoint, stole vehicle and weapons

    Officials: Jail escapees held detective at gunpoint, stole vehicle and weapons

    Tuesday, July 29 2014 6:37 PM EDT2014-07-29 22:37:42 GMT
    Calvin and Phillip Metcalf were being held on larceny charges on Tuesday morning when they held an Avery County detective at gunpoint and escaped custody.
    Calvin and Phillip Metcalf were being held on larceny charges on Tuesday morning when they held an Avery County detective at gunpoint and escaped custody.
  • NC man arrested in 20-year-old rape case

    NC man arrested in 20-year-old rape case

    Tuesday, July 29 2014 6:37 PM EDT2014-07-29 22:37:26 GMT
    Charlotte-Mecklenburg Police detective say they have arrested a man for his part in a 20-year-old sexual assault case.
    Charlotte-Mecklenburg Police detective say they have arrested a man for his part in a 20-year-old sexual assault case.
Powered by WorldNow

1205 Front St., Raleigh
N.C., 27609

Telephone: 919.836.1717
Fax: 919.836.1687
Email: newstips@wncn.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.