Idaho Public Employee Retirement System, Boise, returned a gross 1.8% in the fiscal year ended June 30, said Bob Maynard, chief investment officer.
The $14.8 billion pension fund's return was 20 basis points below its policy benchmark of 2%. Real estate investment trusts led all asset classes with a gross return of 22.4%, followed by private real estate at 18%.
Fixed income had a one-year gross return of 6.1%, followed by Treasury inflation-protected securities at 4.4%, domestic equity at 2.1% and private equity, 0.2%. International developed markets equity returned -9.7% and emerging markets equity, -11.7%.
As of June 30, the actual allocation was 33% domestic equity, 14% international developed markets equity, 12% fixed income, 10% TIPS, 8% emerging markets equity, 6% each private equity and REITs, 5% Idaho mortgages, 4% private real estate and 2% cash.
