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Pension Funds

North Dakota records 9.1% fiscal-year return

North Dakota state capitol building in Bismarck.

North Dakota State Investment Board's pension trust returned a net 9.1% for the fiscal year ended June 30, above its 7.9% benchmark, said David J. Hunter, executive director and chief investment officer, in an email.

The Bismarck-based pension trust returned an annualized net 7.3%, 8.3% and 5.6%, respectively, for the three, five and 10 years ended June 30, compared to their respective benchmarks of 6.7%, 7.5% and 6.3%. The trust returned a net 12.96% for the fiscal year ended June 30, 2017.

By asset class, global equities returned a net 12.3% for the fiscal year, topping its 11.1% benchmark; global real assets returned 6.1%, above its 5.5% benchmark; and global fixed income returned a net 3.6%, surpassing its 1.9% benchmark.

As of June 30, the actual allocation was 23.9% domestic fixed income, 23% domestic equities, 16% global equities, 15.6% international equities, 10.2% global real estate, 4.7% infrastructure, 3.3% private equity, 2.3% timber and 1% cash equivalents.