Missouri State Employees’ Retirement System, Jefferson City, returned 14.3% for the fiscal year ended June 30, exceeding its assumed rate of return of 8.5% by 5.8 percentage points, confirmed Christine Rackers, spokeswoman for the $7 billion system.
The system’s 10-year annualized return was 4.9% as of June 30, almost doubling its policy benchmark return of 2.6%.
Private investment — consisting of private equity and private debt — was the best-performing portfolio category in the fiscal year, returning 19.3%; followed by public debt at 14.8%; public equity at 14.3%; hedge funds at 12.6%; and real assets at 7.4%.
The overall investment portfolio generated $887 million for the fiscal year, Gary Findlay, executive director, said in a news release.
