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Pension Funds

Austin City Employees’ returns match or top benchmark for multiple periods

Austin (Texas) City Employees' Retirement System's investment performance matched or was above that of its policy benchmark for reported periods ended June 30 over the prior 10 years.

Net returns of the $2.6 billion pension fund and its policy benchmark were 0.9% for the quarter ended June 30. For other periods ended June 30, the pension fund's net return for the year was 7.8% vs. 7.2% for the benchmark; three years, 6.4% (benchmark, 6%); five years, 7.6% (7.2%); seven years, 6.8% (6.7%); and 10 years, 6.8% (5.9%). Multiyear returns are annualized.

The pension fund's net return for the year ended June 30, 2017, was 12.3% compared to 12.2% for the benchmark.

The defined benefit plan's asset allocation as of June 30 was 31.7% U.S. equity, 21% fixed income, 19.3% international equity, 9.3% emerging market equity, 8.9% real estate, 5% strategic partnership, 4.6% risk parity and 0.2% cash.