Mississippi Public Employees' Retirement System, Jackson, returned a gross 1.15% for the fiscal year ended June 30, compared to its benchmark return of 0.98% said spokeswoman Shelley Powers in an e-mail.
Real estate was the top performer, returning 13.31%, followed by private equity at 10.62%, fixed income, 6.84%; U.S. equities, -0.37%; global equities, -3.31%; and international equities, -7.99%.
As of June 30, the $24.5 billion pension fund had an asset allocation of 32.71% U.S. equities, 20.42% fixed income, 20.25% non-U.S. equities, 10.93% real estate, 7.85% global equity, 6.65% private equity and the remainder in cash.
For the three, five and 10 years ended June 30, the pension fund returned an annualized 7.44%, 7.18% and 5.93%, respectively, vs. its benchmark returns of 7.47%, 6.86% and 5.76% in each of those periods.
Mississippi PERS’ assumed rate of return is 7.75%.