Kentucky Retirement Systems, Frankfort, returned -0.44% last year, outpacing the benchmark return of -1.19%, according to a posting on the website of the $13.4 billion pension system.
The strongest returns for 2011 came from real estate and private equity, which returned 13.33% and 11.03%, respectively. Fixed income returned 7.04% while equities were down 7.98% for the year.
As of Dec. 31, the Kentucky Retirement Systems returned an annualized 10.38% for three years, 1.75% for five years and 5.78% for 10 years.
Chief Investment Officer T.J. Carlson did not return a telephone call by press time for additional comment.
