Two San Jose, Calif., pension funds reported fiscal-year returns that each exceeded 26% in investment reports posted on the pension funds' website.
The $2.8 billion San Jose Federated City Employees Retirement System, returned a net 29.2% for the fiscal year ended June 30, above its policy benchmark return of 27.8%.
For the three, five and 10 years ended June 30, the pension fund returned an annualized net 11.8%, 9.7% and 6.4%, respectively, compared with their respective benchmarks of 11.3%, 9.9% and 6.9%.
The federated employees pension fund returned a net 3.6% for the fiscal year ended June 30, 2020.
The $4.7 billion San Jose Police & Fire Department Retirement Plan returned a net 26.3% for the fiscal year ended June 30, above its policy benchmark return of 25.2%.
For the three, five and 10 years ended June 30, the pension fund returned an annualized net 10.7%, 9.7% and 6.9%, respectively, compared with their respective benchmarks of 10.4%, 9.7% and 7.1%.
The police and fire pension fund returned a net 3.1% for the fiscal year ended June 30, 2020.