Louisiana State Employees’ Retirement System, Baton Rouge returned 16.1% on its investments for the fiscal year ended June 30, bringing the system’s asset value to $7.68 billion, according to a LASERS news release.
Equities were up 15.7%, fixed income rose 20.7% and alternatives returned 12.1%, Bobby Beale, chief investment officer, said in the news release.
LASERS’ 25-year return was an annualized 8.41% as of June 30, exceeding the expected return of 8.25%.
Cindy Rougeou, executive director, praised the system’s investment staff; more than 25% of the system’s assets are managed internally.
“The importance of a strong in-house investment team, and its ability to meet the unique needs of our members cannot be overstated,” Ms. Rougeou said in the news release.