Nevada Public Employees' Retirement System, Carson City, returned a net 2.3% in the fiscal year ended June 30, underperforming its market benchmark of 2.7%, said an investment report posted on the $34.9 billion pension fund's website.
The best-performing asset class was private real estate, which returned a net 8.7% in the year ended June 30, followed by private equity at 7.8%. Domestic fixed income returned 6.3%, domestic equity returned 4% and international equity returned -9.8%.
The pension fund's exposure to domestic and international equities and domestic fixed income is all in passive strategies.
As of June 30, the pension fund's actual allocation was 45.6% domestic equities, 28.2% domestic fixed income, 17.1% international equities, 4.5% private real estate, 4.2% private equity and 0.4% cash.
The target allocations are 42% domestic equities, 30% domestic fixed income, 18% international equities and 5% each private equity and private real estate.
Stephen J. Edmundson, investment officer, did not return a phone call seeking further information by press time.
