Hawaii Employees’ Retirement System, Honolulu, returned 14% for the year ended Dec. 31, one percentage point higher than its policy benchmark, confirmed Vijoy Chattergy, chief investment officer of the $12.2 billion pension fund.
International equity was the top-performing asset class, returning 19%. Following were domestic equity, 15.8%; real estate, 15%; private equity, 11.8%; fixed income, 10%; and real return and covered calls, 6% each.
Separately, the pension fund is looking to hire a private equity consultant before or at the March 11 board meeting. Mr. Chattergy would not disclose the names of three finalists in that search.