North Carolina's public pension fund has been ranked second.
Standard & Poor's annual study ranked the state behind only Oregon, news that state Treasurer and Democratic gubernatorial candidate Richard Moore trumpeted at a press conference Thursday.
North Carolina was ranked second last year as well.
"We have had a wonderful approach for slow, steady, solid, conservative returns," Moore said.
He said the pension fund did not invest in the most risky subprime-mortgage-linked securities, inclluding collateralized debt obligations. The few hedge funds that the state invested in are not directly affected by the ongoing credit crisis, he said.
"Unlike a whole lot of publicly run institutions in the country, we passed on all of them," Moore said. (Char-O)
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