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Pension Funds

North Dakota pension trust posts 12.96% fiscal-year return

North Dakota State Investment Board's $5.3 billion pension trust returned a net 12.96% for the fiscal year ended June 30, surpassing its policy benchmark of approximately 12%.

By asset class, global equities returned 18.8% (vs. its 18.7% benchmark); real assets, 6% (4.8%); and fixed income, 4.8% (1.5%).

As of June 30, the pension trust had an asset allocation of 23% domestic equity, 18% domestic fixed income, 17% global equity, 16% international equity, 11% global real estate, 5% each international fixed income and infrastructure, 3% each private equity and timber, and 1% cash equivalents.

For the three, five, 10, 15 and 30 years ended June 30, the Bismarck-based pension trust returned an annualized 5.5%, 9.1%, 4.1%, 7.1% and 7.8%, respectively. The pension trust's benchmarks for the three-, five- and 10-year periods were 4.8%, 8.2%, and 5%, respectively. Benchmark returns for 15 and 30 years were not provided.