Iowa Public Employees’ Retirement System, Des Moines, returned 11.7% for the fiscal year ended June 30, surpassing its policy benchmark of 11.2%, said a spokeswoman for the $30.7 billion pension fund in an email.
Last fiscal year, the pension fund returned 2.2%.
For the three, five and 10 ended June 30, the pension fund returned an annualized 5.9%, 8.7%, and 5.9%, respectively, vs. its benchmark returns of 5.8%, 8.6% and 6.3%, in each of those periods.
For the 30 years ended June 30, the pension fund returned an annualized 8.7%.
The pension fund has a target asset allocation of 28% core-plus fixed income, 24% domestic equity, 16% international equity, 11% private equity, 8% real estate, 5% each U.S. Treasury inflation-protected securities and credit opportunities, 2% other real assets and 1% cash.