North Carolina posts 4.4% for fiscal year, above benchmark

North Carolina Retirement Systems, Raleigh, returned a net 4.4% for the fiscal year ended June 30, said Dan Ray, spokesman for state Treasurer Dale R. Folwell's website.

The $103.9 billion pension fund's fiscal-year return exceeded its policy benchmark return of 3.6%.

For the three, five and 10 years ended June 30, the pension fund returned an annualized net 6.1%, 5.9% and 7.7%, respectively, above the respective benchmarks of 5.3%, 5.3% and 7%.

The pension fund returned a net 6.6% for the fiscal year ended June 30, 2019.

For the fiscal year ended June 30, the top performer was the investment-grade fixed income and cash asset class, which returned a net 10.7% (above the benchmark return of 10.6%); followed by public equities at a net 4.9% (above the 1.2% benchmark return); private equity, 2.4% (0.8%); non-core real estate, 2.1% (1.1%); core real estate, 1.7% (-1.7%); multistrategy portfolio, -6.8% (-2.7%); opportunistic fixed income, -6.9% (1.5%); and inflation-sensitive assets, -7.8% (-3.7%).

As of June 30, the actual allocation was 32.2% each investment-grade fixed income/cash and public equities; 9.4% pension cash; 5.7% opportunistic fixed income; 5.3% core real estate; 5.2% inflation-sensitive assets; 5.1% private equity; 2.9% non-core real estate; and 2% multistrategy portfolio.