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Pension Funds

Iowa Public Employees’ return tops benchmark

Iowa Public Employees' Retirement System, Des Moines, returned a net 7.97% for the fiscal year ended June 30, topping its benchmark by 18 basis points, spokeswoman Judy Akre said in an email.

The $32.3 billion pension fund also reported annualized net returns for the three, five and 10 years ended June 30 of 7.2%, 8.22% and 6.84% respectively, compared to their respective benchmarks of 7.23%, 8.05% and 7.33%. IPERS returned a net 11.7% for the fiscal year ended June 30, 2017.

Asset class return information is not yet available, Ms. Akre said; it will be reviewed at the pension fund's September board meeting.

The pension fund's target allocation is 27% core-plus fixed income; 22% domestic equities; 15% international equities; 11% private equity; 7.5% private real assets; 7% public real assets; 3.5% public credit; 3% each, global smart beta equity and private credit and 1% cash.