New Hampshire Retirement System, Concord, returned 3.5% net of fees in the fiscal year ended June 30, said spokesman Marty Karlon.
The three-year, five-year and 10-year annualized returns were 11.6%, 6.9% and 7.8%, respectively. The $7.5 billion pension fund's assumed rate of return is 7.75%. Policy benchmark information was not provided.
The pension fund's best-performing asset class for the fiscal year was real estate, which returned 13.1%, followed by domestic equity at 6.6% and total alternative assets at 4.7%.
Asset classes that saw losses were fixed income and international equity, which lost 0.7% and 3.2%, respectively.
As of June 30, the actual asset allocation was 38% domestic equity, 23.3% fixed income, 19.2% international equity, 9.8% alternative assets, 9.1% real estate and the rest in cash.
Target allocations are 30% domestic equity, 25% fixed income, 20% international equity, 15% alternative assets and 10% real estate.
