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Public
Employee Press Annuity Fund statement
due in July
The DC 37 AFSCME Annuity Fund will
issue its annual statement to nearly 70,000 account holders in mid-July.
The
financial climate and instability in the market for investment securities for
fiscal year 2009, which ended on June 30, had a negative impact on the fund. The
Annuity Fund is invested primarily (65%) in a diversified portfolio of investment-grade
bonds and (35%) in a stock portfolio.
The funds bond portfolio exceeded
expectations; however, the stock market performance over the period was very negative.
As a result, while the returns on the total portfolio were negative, participants
losses were limited, compared to the severe losses occurring in the stock market.
If
you have questions about the Annuity Fund, please contact the fund office at 212-815-1888.
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