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Pension fund sees ‘trend’ of growth, sheds four hedge fund managers

Boston – The state pension fund climbed 2.6 percent in September to finish the month with a $41.5 billion balance, according to a preliminary staff assessment.

“I feel a lot better this year than I did a year ago. Last year, Lehman had gone bankrupt, we were on the eve of the worst thing I’ve seen in my life as far as investments go,” said Stan Mavromates, chief financial officer of the Pension Reserves Investment Trust, which funds benefits for state retirees, at a Tuesday meeting. “All arrows are pointing up. We didn’t emotionally react to anything.”

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