Illinois Teachers' Retirement System, Springfield, reported a preliminary net return of 12.3% for the fiscal year ended June 30, compared to the 11.4% return of the benchmark.
For other periods ended June 30, annualized returns were three years, 5.4% (benchmark, 6.1%); five years, 9.1% (9.3%); 10 years, 4.8% (5.3%); 20 years, 6.9% (6.7%); and 30 years, 8.1% (8.4%).
The $48.7 billion pension fund reported a flat return in the previous fiscal year.
Returns of illiquid investments, including private equity and real estate, lag a quarter.
The target asset allocation of the fund as of June 30 was global fixed income, 18.5% (actual, 19.54%); international equity, 18% (20.92%); domestic equity, 18% (15.68%); real estate, 15% (14.51%); private equity, 12% (12.91%); real return, 9.5% (8.05%); hedge funds, 8% (6.31%); and cash equivalents, 1% (2.07%).
