Illinois State Board of Investment, Chicago, returned a preliminary 4.3% for the fiscal year ended June 30, exceeding its 3.5% benchmark, said documents on the board’s website.
The top performer was U.S. equity, which returned 6.4%, followed by hedge funds at 5.9%, international equity, -1%, and fixed income, -1.4%. Fiscal-year returns for real estate, private equity and real assets were not provided.
As of June 30, the board, whose oversight includes $15.8 billion in defined benefits assets, had an asset allocation of 31% U.S. equity, 22% fixed income, 19.7% international equity, 10% hedge funds, 9.9% real estate, 4% private equity, 3.2% real assets, and the remainder in cash equivalents.
All return numbers are gross of fees.
William R. Atwood, ISBI executive director, declined to comment as the returns are preliminary.