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Pension Funds

Idaho Public Employees returns net 8.4% in fiscal year

Idaho Public Employee Retirement System, Boise, returned a gross 8.7% and net 8.4% in the fiscal year ended June 30, said Bob Maynard, chief investment officer, in an email.

The $17.5 billion pension fund's gross return fell slightly short of the fund's 9% benchmark.

The best-performing asset class was private equity, which returned a gross 18.4% for the fiscal year ended June 30, followed by domestic equity, which returned 13.9%; private real estate, 13.3%; global equities, 12.8%; international equities, 6.6%; real estate investment trusts, 3.4%; Treasury inflation-protected securities, 2.3%; Idaho mortgages, 0.7%; and fixed income, 0.6%.

The pension fund's annualized gross returns for the three, five and 10 years ended June 30 were 7.7%, 8.6% and 6.6%, respectively. The one-year gross return for the fiscal year ended June 30, 2017, was 12.7%; the net return was 12.4%. Net returns were not provided for long-term returns.

As of June 30, the actual allocation was 29.6% domestic equities, 16.4% global equities, 15.3% international equities, 13.9% fixed income, 8.9% TIPS, 6.2% private equity, 4.1% Idaho mortgages, 4% private real estate and 1.6% REITs.