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Pension Funds

Chicago Policemen’s fund gains 7.4% in fiscal year

Chicago Policemen's Annuity and Benefit Fund returns trailed that of the $2.6 billion fund's benchmark in the most recent quarter but surpassed it in other periods ended June 30.

As of June 30, the fund's net return for three months was -0.33%, compared to 0.36% for the benchmark; one year, 7.41% (benchmark, 6.52%); three years, 6.59% (5.13%); and five years, 7.63% (6.02%).

The pension fund returned a net return 12.31% the previous fiscal year vs. 9.93% for the benchmark, said Aoifinn Devitt, chief investment officer, in an email.

The asset allocation for CPABF as of June 30 was 52.5% equity, 26.4% fixed income, 6% private credit, 4.6% global tactical asset allocation, 3.3% each infrastructure and real estate, 3% hedge funds of funds, 0.7% private equity and 0.2% cash.