Texas Employees returns 12.34%, outperforming benchmark
By Christine Williamson | February 13, 2013 3:25 pm
Texas Employees Retirement System, Austin, returned 12.34% in the year ended Dec. 31, topping the 12.14% return of the customized benchmark of the $22.9 billion pension fund, according to an online performance report.
The three-year return as of Dec. 31 was 8.13%; five years, 3.23%; 10 years, 7.49%; and 30 years, 8.54%. The customized benchmark returned 7.94% for the three-year period; five years, 3.07%; and 10 years, 7.37%.
All returns are gross of fees, and multiyear returns are annualized. A benchmark return for the 30-year period ended Dec. 31 was not provided.
Texas ERS' current assumed annual rate of return is 8%.