Missouri school systems returns 12.1% for year

Missouri Public School and Education Employee Retirement Systems, Jefferson City, returned 12.1% for the year ended Dec. 31, confirmed Stacey McNally, executive assistant, investments, in an e-mail.

The best-performing asset class of the retirement systems, which have combined assets of $31.8 billion, was domestic equity, which returned 16.1% Following were private equity at 12.8%; hedged assets, 11.5%; private credit, 11.2%; and real estate with 10.5%.

Other asset class returns were credit, 8.7%; U.S. TIPS, 5.3%; and U.S. Treasuries, 2.1%.

The pension funds' target allocation is 27% domestic equity, 16% U.S. Treasuries, 15% global equity, 12% credit, 10.5% private equity, 7.5% real estate, 6% hedged assets, 4% U.S. TIPS and 2% private credit.

As of Dec. 31, the actual allocation was 30.87% domestic equity, 15.73% global equity, 14.8% hedged assets, 12.13% U.S. Treasuries, 8.97% credit, 7.64% real estate, 6.75% private equity, 1.69% U.S. TIPS, 1.23% private credit and 0.19% cash/other.