Teamsters Central States, Southeast and Southwest Areas Pension Plan returned 13.56% in 2012, outpacing its Wilshire's Trust Universe Comparison Service benchmark return of 13.25%, according to an independent special counsel filing with the U.S. District Court, posted Tuesday on the Rosemont, Ill.-based fund's website.
For three years ended Dec. 31, the Central States fund returned an annualized 9.02%, underperforming its TUCS 9.25% benchmark return, David H. Coar, independent special counsel, wrote in the report.
For its benchmark, the fund uses the TUCS median return for pension plans exceeding $3 billion in assets.
In 2011, the fund returned -0.28%, underperforming the 1.58% return of its TUCS benchmark.
The pension fund had $17.7 billion in total assets as of Dec. 31, up slightly from $17.6 billion as of the end of 2011.
In 2012, the fund's equities returned 16.67% and fixed-income investments returned 6.35%. Both returns underperformed their respective TUCS benchmark returns for the year of 17.08% and 9.18%
Mr. Coar filed the report with U.S. District Judge Milton I. Shadur in Chicago. The fund operates under U.S. District Court supervision through a 1978 consent decree with the Department of Labor to oversee the integrity of the fund's jointly trusteed oversight and management.
Mark Angerame, CFO, Central States, couldn't be reached for comment.