Hawaii Employees' Retirement System, Honolulu, returned 17.4% for the fiscal year ended June 30, slightly below its policy benchmark of 17.5%, said Vijoy Chattergy, chief investment officer.
The top performer was domestic equity, which returned 26.3%, followed by international equity, 20.8%; private equity, 20.4%; covered calls, 13.5%; real return, 7.9%; fixed income, 6.4%; and real estate, 2.2%.
For the three, five and 10 years ended June 30, the pension fund returned an annualized 9.7%, 12.4% and 7.6%, respectively.
As of June 30, the $14.1 billion pension fund had an asset allocation of 36.2% domestic equity, 25.5% international equity, 17.1% fixed income, 6.4% real estate, 5.7% covered calls, 4.3% real return, 4% private equity and the rest in other assets.
