Central States, Southeast & Southwest Areas Pension Fund, Rosemont, Ill., returned 14.04% on its investments for the 12 months ended March 31, according to its latest report.
The fund, which had $20.1 billion in assets as of March 31, outperformed its Wilshire Trust Universe Comparison Service benchmark return of 14.02% for the same period, the report said. The benchmark is the median of TUCS funds with assets exceeding $3 billion,
The fund’s equity portfolio, which was $13.5 billion as of March 31, returned 16.09%, underperforming the TUCS median return of 16.42%. Fixed income, which was $6 billion as of March 31, returned 6.53%, underperforming TUCS’ 8.15% median.
The fund’s asset allocation was 67% equity, 30% fixed income, 1% cash and 2% other.
Frank J. McGarr, independent special counsel, prepared the report for the fund. It operates under federal court supervision through a 1978 consent decree with the Department of Labor overseeing the management of the fund, which was the target of corruption investigations. U.S. District Court Judge Milton I. Shadur in Chicago supervises the decree.
Mr. McGarr declined to respond to an inquiry.
Mark Angerame, Central States chief financial officer, couldn’t be reached for comment.