The New Hampshire Retirement System (NHRS) sent out a press release today announcing that Larry Johansen, director of investments at the fund for the past 12 years, will retire on Sept. 1. NHRS will now begin a nationwide search to find Johansen’s replacement.
Under Johansen’s leadership, the fund consistently achieved returns above the assumed return of 6.75%, averaging 9.3% returns over the past 10 years, net of fees. From June 30, 2010, to June 30, 2021, the NHRS trust fund’s assets grew from $4.9 billion to $11.6 billion.
Tim Lesko, chair of the NHRS Board, praised Johansen’s performance in the press release.
“His experience and leadership skills have contributed to the growth and diversification of the fund, with a focus on maximizing investment returns while minimizing risk,” Lesko said.
Tags: Larry Johansen, New Hampshire Retirement System, NHRS, Retirement