The investment fund that fuels state employee’s retirement plan will likely take a small second quarter loss. The news follows two strong quarters in a row, with overall gains of roughly 13 percent. But thanks to a sluggish market in the last three months, the fund is expected to be down 1 or 2 percent at the end of trading today.
Still, officials say the retirement system is outperforming 98 percent of similar funds. And while much of the trouble this quarter has come from investments in European stocks, the fund managers say they’re convinced the best plan of attack is to maintain those European investments and wait out that continent’s fiscal crisis, much as they did during the US downturn.
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