Massachusetts Pension Reserves Investment Management Board returned 2.3% in the fiscal year ended June 30, confirmed spokeswoman Nicole Giambusso.
The return drove the value of the Boston-based MassPRIM to $60.6 billion. It also outperformed the pension fund's benchmark by 84 basis points, equating to $514 million in added value above the benchmark.
Core fixed income returned 14.7% in fiscal 2016; real estate and private equity, 12.2% each; portfolio completion strategies, 8.7%; value-added fixed income, 1%; and timber: 0.4%.
Meanwhile, global equities returned -3.93%, while hedge funds (net of fees) returned -5.37%.