State of Wisconsin Investment Board, Madison, reported a 15.1% return for the year ended June 30 on its fixed fund, which has about $60 billion in diversified domestic and international equity, bond, loan, real estate and private equity holdings. It also beat its customized benchmark return of 15.1%. The fund's five-year and 10-year returns are 4.3% and 9.8%, respectively. The $70 billion board's variable fund, a $6 billion all-stock fund, returned 23% for the year ended June 30, outperforming its customized benchmark return of 22.2% and the S&P 500's 19.1%. The variable fund's five-year and 10-year returns are 1% and 10.1%, respectively. Most of the increase came in the last part of 2003, with returns for the first half of 2004 remaining flat, according to the board.
Preliminary results for year-to-date returns through July 31 show the fixed fund returned 0.8% and the variable fund 0.4%, both ahead of their benchmarks.