Florida Retirement System, Tallahassee, returned -18.96% on its investments for the fiscal year ended June 30, underperforming its customized benchmark by 1.07 percentage points, according to a statement by the Florida State Board of Administration, which oversees the system.
The system’s domestic equities returned -26.33%, international equities -29.39% and real estate -21.26%, each outperforming the customized benchmark’s return of -26.56%, -30.2% and -24.74%, respectively.
Its fixed income return was 2.12%; cash investments -5.37%; strategic assets, which are multiasset opportunistic investments, -32.88%; private equity -25.41%; and high yield -2.44. Each underperformed its customized benchmark’s returns of, respectively, 6.05%, 1.72%, -21.99%, -22.06% and -1.77%.
As of Aug. 7, the board of administration’s assets were estimated to be $128.6 billion, including the Florida Retirement System’s $105.6 billion, said Michael P. McCauley, senior corporate governance officer.
