Louisiana Teachers’ Retirement System, Baton Rouge, returned 18.36% net of fees in the fiscal year ended June 30, spokeswoman Lisa Honore said.
The $16.9 billion pension fund’s fiscal year return exceeded its policy benchmark by 19 basis points.
The top-performing asset class was domestic equities, which returned 25.45%, followed by international developed markets equities at 25.28%.
Alternative assets — which include infrastructure/commodities, private equity, private debt and real estate — returned 16.41%, followed by emerging markets equities at 12.93%, international developed markets fixed income at 8.31%, domestic fixed income at 5.65% and emerging markets fixed income at 3.38%.
As of June 30, the actual allocation was 33% domestic equities, 16% international developed markets equities, 10% each international developed markets fixed income and private equity, 9% domestic fixed income, 8% real estate, 5% emerging markets equities, 4% private market debt, and the rest in emerging markets fixed income and infrastructure/commodities.
The target allocation is 31% domestic equities, 14% domestic fixed income, 13% private equity, 11% international developed markets equities, 8% emerging markets equities, 7% real estate, 6% private market debt, 4% international developed markets fixed income, and 3% each emerging markets fixed income and infrastructure/commodities.
