San Francisco City & County Employees' Retirement System reported a 13.7% return for the fiscal year ended June 30, shows a report by William Coaker Jr., chief investment officer.
The report was presented at the $22.2 billion pension fund's meeting Wednesday.
Mr. Coaker said public equity returns "were very strong," with U.S. stocks gaining 19.3% and international stocks gaining 21.6%.
Private equity and real asset returns, which includes real estate, "were also very good," Mr. Coaker said. He said real assets returned 13.2% for the fiscal year and private equity gained 12.1%. Fixed-income results lagged the other asset classes with a 3.6% return.
The pension fund's hedge fund portfolio, which started in October 2016, reported a return 6.4% through May 31.
Norm Nickens, the board secretary for the retirement system, said in an interview that longer-term annualized returns and how the San Francisco system did against its benchmarks were not immediately available.