Maryland State Retirement & Pension System, Baltimore, reported a 16.2% return on investments for the fiscal year ended June 30, bringing the system's total assets to $30.1 billion. The fund's equity investments earned 23.1% because of strong domestic, international and private equity performance, and real estate returned 20%, the system reported. Fixed income returned 1.6%
"Our efforts are all coming together, and the results show substantial improvement in challenging times," said William Donald Schaefer, board chairman.
The system's asset allocation is 50% domestic equity (including private equity), 30% fixed income, 15% international equities and 5% real estate.