Illinois Teachers ekes out positive return for fiscal year

Illinois Teachers' Retirement System, Springfield, returned 0.76% net of fees for the fiscal year ended June 30, according to final performance numbers provided to the investment committee of the $37.5 billion pension fund's board on Thursday.

The pension fund returned 23.6% the previous fiscal year.

The latest one-year return trailed the pension fund's customized benchmark by 169 basis points, according to data from consultant R.V. Kuhns & Associates. The pension fund was down 1.52% for the quarter ended June 30.

For the three years ended June 30, TRS' return was 12.03%; five years, 0.67%; 10 years, 6.43%; and 20 years, 7.73%.

At 4.8% on a preliminary gross-of-fees basis, the return of the pension fund was much stronger for the quarter ended Sept. 30, beating the custom index by 20 basis points, R. Stanley Rupnik, chief investment officer, told trustees.

For the period ended Sept. 30, the preliminary one-year return was 16.4%; three years, 10.5%; five years, 1.7%; and 10 years, 8.2%.

All multiyear returns are annualized.