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Pension Funds

Iowa Public Employees posts 11.7% return for fiscal year, topping benchmark

Iowa Public Employees’ Retirement System, Des Moines, returned 11.7% for the fiscal year ended June 30, surpassing its policy benchmark of 11.2%, said a spokeswoman for the $30.7 billion pension fund in an email.

Last fiscal year, the pension fund returned 2.2%.

For the three, five and 10 ended June 30, the pension fund returned an annualized 5.9%, 8.7%, and 5.9%, respectively, vs. its benchmark returns of 5.8%, 8.6% and 6.3%, in each of those periods.

For the 30 years ended June 30, the pension fund returned an annualized 8.7%.

The pension fund has a target asset allocation of 28% core-plus fixed income, 24% domestic equity, 16% international equity, 11% private equity, 8% real estate, 5% each U.S. Treasury inflation-protected securities and credit opportunities, 2% other real assets and 1% cash.