Austin Firefighters returns 30.1%, above its benchmark

Austin (Texas) Firefighters Relief & Retirement Fund produced final annualized net returns that topped those of its benchmark in all listed periods ended June 30, a financial report showed.

The $1.2 billion defined benefit plan returned 30.1% in the year ended June 30 compared with 27.9% for the benchmark.

Over longer time periods ended June 30, the pension fund's annualized returns were three years, 12.1%, (benchmark 10.9%); five years, 11.7% (10.7%); and 10 years, 8.7%, (8.4%).

For the year ended June 30, 2020, the fund returned 2.6% vs. 0.7% for its benchmark.

Since inception in March 1997, the annualized return has been 7.6%. The report did not provide the benchmark return for the pension fund over this period.

By asset class, the pension fund's best return in the year ended June 30 was 58.1% for private equity vs. 57.6% for its benchmark.

One-year returns for the pension fund's other asset classes were U.S. equity, 46.8% (benchmark, 44.2%); international equity, 42.7%, (35.7%); natural resources, 17.7%, (45.9%); real estate, 7.6%, (7.4%); and fixed income, 5%, (-0.3%).

The pension fund's asset allocation as of June 30 was 27.7% fixed income, 21.8% international equity, 20.5% private equity, 19.2% U.S. equity, 7.6% real estate, 2.4% natural resources and 0.8% cash.

The pension fund's fiscal year-end is Dec. 31.