Massachusetts' pension fund returned nearly 14% in 2012 and exceeded its benchmark by 84 basis points, its board reported.
Mass. Pension Fund Returned 14%
FEB 7, 2013 2:00pm ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.
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