San Diego County Employees Retirement Association returned 6.42% on its investments for the fiscal year ended June 30, down from 21.62% a year earlier, said Dan Flores, spokesman for the $8.6 billion pension plan, in an e-mail.
Mr. Flores said individual asset-class returns would not be released until the SDCERA investment board's Sept. 20 meeting.
Mr. Flores noted that SDCERA's returns were in the top 5% of public pension funds with assets of more than $1 billion for the one-, two-, and three-year periods ended June 30 as reported by the Wilshire Trust Universe Comparison Service.
“This means we exceeded our assumed rate of return of 8% for the two years combined,” Mr. Flores wrote.
Over the 10-year period ended June 30, SDCERA returned an annualized 8.3%, exceeding its 8% assumed rate of return.