Oklahoma Teachers' Retirement System, Oklahoma City, returned -2.4% net of fees for the fiscal year ended June 30, below its 0.6% benchmark return, said Tom Spencer, executive director, in an e-mail.
Among the various asset classes, active duration fixed income returned 21.3%, core fixed income, 6.8%; high-yield bonds, 2.4%; domestic small-cap equity, -0.8%; active domestic large-cap equity, -0.1%; active domestic all-cap equity, -4.8%; international small-cap equity, -5.2%; domestic midcap equity, -8.4%; international large-cap equity, -10.9%; and master limited partnerships, -21.7%.
Overall real estate, private equity and opportunistic fixed-income returns were not available.
For the three, five and 10 years ended June 30, the pension fund topped its benchmark with annualized returns of 7.1%, 7.9% and 6.7% respectively. Benchmark returns were a respective 6.8%, 7.4%, and 6.1%.
As of June 30, the $13.8 billion fund had an asset allocation of 14.3% active domestic midcap equity, 14% core fixed income, 11% active domestic small-cap equity, 9.1% international large-cap equity, 8.2% active domestic large-cap equity, 8.1% master limited partnerships, 5.9% high-yield bonds, 5.6% international small-cap equity, 5.5% core real estate, 5.1% private equity, 4% passive domestic large-cap equity, 3.6% active domestic all-cap equity, 2.7% active duration fixed income, 1.4% non-core real estate, 1.1% opportunistic fixed income, and the remainder in cash.