Nashville (Tenn.) & Davidson County Metropolitan Government Employee Benefit Trust Fund returned 18.37% in the fiscal year ended June 30, said Fadi BouSamra, chief investment officer, in an e-mail.
The return for the $2.8 billion pension fund came in 301 basis points higher than the 15.36% benchmark, Mr. BouSamra said.
The best-performing asset class was domestic equities, with a 25.42% return, followed by private equity at 22.73%, and international equities at 22.26%.
Other asset class returns were real assets, 18.67%; alternative fixed income, 14.14%; long/short equity, 13.29%; and traditional fixed income, 6.57%.
The current actual allocation is 23.9% domestic equities, 18.8% international equities, 14.5% alternative fixed income, 14.4% traditional fixed income, 10.7% real assets, 10.1% long/short equity, and 7.6% private equity.
The target allocation is 37.5% domestic and international equities; 15% each traditional fixed income and alternative fixed income; 12.5% real assets; and 10% each long/short equity and private equity.