Missouri Education Pension Trust, Jefferson City, returned a gross 1.84% in the fiscal year ended June 30, equal to its policy benchmark, said an investment report provided by Jennifer Martin, executive assistant — investments.
The overall return net of fees was 1.64% and the annualized five-year return net of fees as of June 30 was 7.19% The best-performing asset class for fiscal year 2016 was real estate, which returned 10.53% in the year, exceeding its policy benchmark by 31 basis points, followed by private equity at 8.43%, which exceeded its policy benchmark by 629 basis points.
Other asset class returns for the fiscal year were: U.S. Treasuries, which returned 5.59%; credit, 5.17%; U.S. Treasury inflation-protected securities, 3.55%; cash equivalents, 0.86%; and domestic equities, 0.09%.
Hedged assets returned -1.38%, international equities returned -5.71% and private credit returned -7.8%.
Asset class returns were partially net of fees; which asset classes those were could not be immediately learned.
Target allocations are 27% domestic equities, 16% U.S. Treasuries, 15% international equities, 12% credit, 10.5% private equity, 7.5% real estate, 6% hedged assets, 4% U.S. TIPS and 2% private credit.
The Missouri Education Pension Trust consists of the combined $38.6 billion in assets of the Public School Retirement System and Education Employee Retirement System.
Ms. Martin and Craig Husting, chief investment officer, could not be immediately reached to provide further information.
