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CED-81-86 1 (1981-03-26)

handle is hein.gao/gaobabbty0001 and id is 1 raw text is:                                                          11Ij t.4C  ,




REPORT BY THE U, S.



General Accounting Office


Pension Fund Investment

In Agricultural Land


Federal, State, and local laws and regulations
limit the types of investments pension funds
can make. Although comprehensive data is
lacking, GAO found that a substantial portion
of the $623 billion of 1979 pension funds is
limited to certain types of investments. Fed-
eral laws alone limit about $98 billion in pub-
lic pension fund assets to investment in Fed-
eral or federally backed securities.

Seven pension fund fiduciaries, which oversee
about $93 billion in pension funds, told GAO
that about $21 million of the $93 billion is
in direct ownership of farmland. An additional
$2 billion is invested in mortgages to farmers.

In general, pension fund fiduciaries said that
they did not expect their portfolios to show
an increased percentage devoted to farmland
investment.


     CED-81-86
MARCH 26, 1981


/


114880

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