Oklahoma Public Employees Retirement System, Oklahoma City, returned 3.23%, gross of fees, for the fiscal year ended June 30, surpassing its policy benchmark by 46 basis points, said Joseph A. Fox, executive director, in an e-mail.
The return, however, lagged the pension fund’s 7.5% annual assumed rate of return.
Domestic equity achieved the highest overall return at 7.86%, followed by fixed income at 2.53% and international equity at -4.38%.
The $8.6 billion pension plan has a target allocation of 44% U.S. equity, 24% international equity and 32% fixed income.
For the three, five and 10 years ended June 30, the pension fund returned an annualized 10.92%, 11.13%, and 6.99%, respectively, surpassing its benchmarks of 10.19%, 10.64%, and 6.68% in each of those periods.