Austin (Texas) Police Retirement System returned a net 4.3% for the year ended June 30, trailing the 6.9% of the policy benchmark, an investment report for the $800 million pension fund showed.
In the year ended June 30, 2018, the pension fund returned a net 1.1%.
Annualized net returns of the defined benefit plan were 7.4% for three years (benchmark 9.9%); five years, 5.1% (7.3%); seven years, 6.5% (9.2%); and 10 years, 6.2% (10.3%).
As of June 30, the pension fund's asset allocation was 49% domestic equity, 14% international equity, 9% real estate, 7% multiasset, 6% core fixed income, 5% non-core fixed income, 4% other fixed income, 3% timber, 2% other equity, 0.6% cash and 0.4% other.
One-year net returns by asset class were domestic equity, 7.4% (benchmark, 9%); international equity, -4.4% (1.8%); other equity, -20.6% (no benchmark); fixed income 6.3% (6.9%); other fixed income, 4.9% (no benchmark); multiasset, 5.3% (1.1%); other assets, 2.1% (no benchmark); real estate, 4.7% (6.5%); timber, 2.1% (2.95%).
