Phila. pension fund ends year up 15.6%

Given how little good news is ever reported about Philadelphia's municipal pension fund, Thursday was a red-letter day. The total fund ended the fiscal year up 15.6 percent, outperforming its benchmarks by 1.96 percent. A more narrow portfolio, managed internally, did well, too, showing an 11.97 percent return, about 3.5 percent higher than similar benchmark funds.