Montana Board of Investments, Helena, returned a gross 17.73% for its pension funds with a total $9.8 billion in assets for the fiscal year ended June 30, said David Ewer, executive director, in an e-mail.
The pension funds’ custom benchmark return has not been finalized, but it is approximately 18.3%, wrote Mr. Ewer.
The funds had a fiscal-year net return of 17.17%, said Dan Villa, budget director for the governor’s office.
The top performing asset class was domestic equities, which returned 25.1%, followed by international equities, 21.7%; private equity, 16.5%; real estate, 11.7%; fixed income, 5.2%; and cash, 0.1%.
As of June 30, the pension plans’ asset allocation was 39.2% domestic equities, 21.7% fixed income, 17.8% international equities, 10.5% private equity, 8.7% real estate and 2.1% cash.
