State of Wisconsin Investment Board's $9 billion diversified core fund's investments returned 13.6% for calendar year 2012, outperforming its customized benchmark's 12.8% return, according to an SWIB statement issued Monday.
The $6 billion variable fund, allocated exclusively to domestic and international equity, returned 16.9% for the same period, surpassing the 16.7% return of its customized benchmark.
The two funds make up the Wisconsin Retirement System's assets, which are among the total $90 billion SWIB oversees.
The core fund is allocated to domestic and international equities, fixed income, real estate and private equity.
Returns are preliminary and assets are as of Dec. 31.
Some 18% of the Wisconsin Retirement System's members voluntarily participate in the variable fund, electing to put part of their contributions in it instead of all their contributions in the core fund.