Idaho Public Employee Retirement System, Boise, returned a gross 12.7% in the fiscal year ended June 30, said Robert Maynard, chief investment officer, in an email.
The $16.4 billion pension fund's gross return fell slightly short of its 13% benchmark. Mr. Maynard said the return net of fees was 12.4%.
By asset class, global equity had the best return, with 23%, followed by emerging markets equity, 22.9%; international equity, 20.8%; domestic equity, 15.5%; private equity, 12.3%; private real estate, 10.2%; real estate investment trusts, 0.1%; domestic fixed income, -0.3%; Treasury inflation-protected securities, -0.7%; and Idaho mortgages, -1.1%. All of the asset class figures are gross returns.
As of June 30, the actual allocation was: 24.4% domestic equity, 15.5% global equity, 15.2% domestic fixed income, 9.3% TIPS, 8.3% emerging markets equity, 7.1% international developed markets equity, 6.1% private equity, 5.4% REITs, 4.3% private real estate, 4.2% Idaho mortgages and 0.2% cash and other.