South Carolina Treasurer Curtis Loftis again criticized the underperformance of the pension funds controlled by the S.C. Retirement System Investment Commission recently.
Speaking of the year end results for 2012, Loftis said, “It is unfortunate that the SC Investment Commission chooses not to tell the whole story about the state’s $27 billion pension fund. Our fund performs in the bottom third compared with our peers. That low performance is costing us big money. By being below average, South Carolina is leaving $175 million on the investment table.”
Since assuming the office of treasurer, Loftis has been a critic of the SCRSIC for poor performance, wasteful spending, lack of transparency and conflicts of interest.