LAWRENCE, Kan. (AP) _ Officials with the largest state pension fund say that investments remain sound despite recent turmoil in the stock market.
A spokeswoman for the Kansas Public Employee Retirement system tells the Lawrence Journal-World that the system had relatively limited exposure to some of the big-name financial stocks that suffered huge losses.
Kristen Basso said KPERS invested more than $3.6 million in the now-defunct investment house Lehman Brothers, but "the amounts are very, very small compared to our portfolios.''
Another $9 million invested with the troubled American Investment Group and $5 million at Merrill Lynch total less than 1 percent of KPERS $12 billion portfolio.
(Copyright 2008 by The Associated Press. All Rights Reserved.)