The Houston Firefighters' Relief and Retirement Fund's investments returned 18.41% for the fiscal year ended June 30, not including management fees, said Rhonda Scott Smith, deputy director. The $1.9 billion pension fund's annual and 10-year returns both exceeded the 8.5% return assumption that actuary Mellon Financial determined is needed to pay member benefits. The fund has returned an annualized 10.3% over a 10-year period. For the year ended June 30, the strongest performing asset classes were international, domestic and private equity, with respective returns of 34.3%, 30.9% and 20.1%. The fund's asset allocation is: 23% domestic equity; 20% international equity; 15% private equity; 33% bonds; and 9% real estate and short-term securities.