Oklahoma Firefighters Pension & Retirement System, Oklahoma City, returned a net 5.73% for the fiscal year ended June 30, said Troy Brown, director of consulting at The Bogdahn Group, investment consultant to the $2.3 billion pension fund, in an e-mail.
The pension fund surpassed its 3.15% policy benchmark but fell short of its 7.5% assumed rate of return.
“Other assets,” comprising private equity secondaries, achieved the highest return at 20.2%, followed by real estate at 14.82%; domestic equity, 8.68%; other fixed income, 4.45%; domestic fixed income, 1.77%; international equity, -1.3%; and global fixed income, -5.33%.
The pension fund has a target asset allocation of 37% domestic equity, 20% international equity, 10% real estate, 8% each domestic fixed income and other assets, 7% global fixed income, and 5% each other equity and other fixed income.
For the three, five and 10 years ended June 30, the pension fund returned an annualized 12.44%, 11.71% and 6.92%, respectively vs. benchmark returns of 11.84%, 12.2%, and 7.1%