North Dakota State Investment Board, Bismarck, posted a net return of 17.1% for its $5.7 billion pension trust for the year ended Dec. 31.
The return exceeded its performance benchmark by more than 1 percentage point, said David Hunter, executive director and chief investment officer of the North Dakota Retirement and Investment Office, in an email.
The state's pension trust also generated a net annualized return of 9.3% for the five years ended Dec. 31, exceeding the performance benchmark of 8.2%.
The North Dakota State Investment Board did not make any new investment fund commitments at its Feb. 23 meeting, Mr. Hunter added.