State pension plans could do better with a greater mix of alternative investments in their portfolios, according to a report from Cliffwater LLC.
Examining investment trends and asset allocation over the last 10 years, Cliffwater, an alternative advisory firm, took particular note of asset allocation in the report.
Over a 10-year period ended June 2012, the 97 state pension plans surveyed earned an average of 6.4 percent as compared to individual pension funds, which posted returns ranging from 5 percent to 8.1 percent, according to Cliffwater.
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