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Pension Funds

South Dakota Retirement returns 7.94% for fiscal year, topping its benchmark

South Dakota Retirement System, Pierre, returned a net 7.94% for the fiscal year ended June 30, said Tammy V. Otten, assistant investment officer of the South Dakota Investment Council, which oversees the management of the $12.2 billion pension fund.

The pension fund exceeded its benchmark by 61 basis points. For the three, five, 10 and 20 years ended June 30, the pension fund returned an annualized net 7.2%, 8.8%, 8% and 7.6%, respectively. Benchmark information on those annualized returns was not available.

The pension fund returned a net 13.81% for the fiscal year ended June 30, 2017. Individual asset class returns for the current fiscal year are not yet available, Ms. Otten said.

As of June 30, the retirement system's asset allocation was 32% cash, 28% global equity, 13% investment-grade fixed income, 11% high-yield fixed income, 8% private equity, 7% real estate and 1% absolute return.