<!-- Swiftype Variables -->

Pension Funds

Houston Firefighters posts 12% fiscal-year return

Houston Firefighters' Relief and Retirement Fund returned a gross 12% for the fiscal year ended June 30, above its policy benchmark of 9.52%, said Ajit Singh, chief investment officer, in an email.

Mr. Singh did not provide net returns and declined to provide a breakout of asset class returns or the asset allocation until after the August pension fund board meeting.

For the three, five, seven and 15 years ended June 30, the $4 billion pension fund returned an annualized 4.02%, 8.14%, 8.95% and 8.86%, respectively, vs. it policy benchmarks of 4.97%, 7.32%, 8.04% and 7.53% in each of those periods.