Nevada Public Employees' Retirement System, Carson City, returned a net 8.6% for the fiscal year ended June 30, according to its website.
The $41.3 billion pension fund's return topped its benchmark by 40 basis points. Its annualized net returns of 7.5%, 8.8% and 7.2% for the three, five and 10 years ended June 30, respectively, each outperformed their benchmarks by 10 basis points. The pension fund returned a net 11.9% for the fiscal year ended June 30, 2017.
The best-performing asset class was domestic equities with a net return of 14.3% for the fiscal year ended June 30, 10 basis points below its benchmark; followed by private markets, which returned a net 13.4%, 110 basis points above its benchmark. International equities returned a net 7.2%, 40 basis points above its benchmark, and domestic fixed income returned a net -0.7%, equal to its benchmark. The pension fund's domestic equity, international equity and fixed-income portfolios are 100% invested in index funds.
As of June 30, the actual allocation was 43.6% domestic equities, 29.1% domestic fixed income, 17.8% international equities, 9.2% private markets and 0.3% cash.
The target allocation is 42% domestic equities, 30% domestic fixed income, 18% international equities and 10% private markets.
Stephen J. Edmundson, investment officer, could not be immediately reached to provide further information.