Florida Retirement System’s defined benefit plan investments returned 22% for the year ended June 30, exceeding its customized benchmark by 30 basis points, according to preliminary figures released Wednesday by the Florida State Board of Administration, Tallahassee, which oversees the plan.
For the previous 12-month period the plan returned 14%, exceeding its customized benchmark by 2.51 percentage points.
The defined benefit plan ended June with $128.4 billion in assets, up 17.4% after net distributions of $4.6 billion to retirees, an FSBA statement said.
According to a separate statement, for the 12 months ended June 30, the plan’s returns were 31.1% in global equities, 6.1% in fixed income, 18.6% in real estate, 18.2% in private equity and 19.5% in strategic investments comprising opportunistic debt and equity strategies. John Kuczwanski, communications manager, said corresponding benchmark comparisons aren’t yet available for the asset classes.
The plan returned an annualized 4.92% over five years, 5.5% over 10 years and 8.79% over 20 years, outperforming the benchmark by an annualized 26, 25 and 18 basis points, respectively, according to the FSBA statement
The Florida Retirement System Investment Plan, a 401(a) plan, returned 18.1% on its investments for the year, outperforming its customized benchmark by 87 basis points, the statement said.
The 401(a) plan returned 11.07% a year earlier, outperforming the 10.32% return of its customized benchmark.
The 401(a) plan ended June with a record $6.74 billion in assets, an increase of 33.5%, the statement said.