Austin Police returns 29.7%, outperforming benchmark

Austin (Texas) Police Retirement System returned a preliminary net 29.7% for the year ended June 30, outperforming the 26.2% return of the $1 billion defined benefit plan's benchmark, an investment report showed.

The fund's net return for the year ended June 30, 2020 was 1.3%, while its benchmark returned 4.3%.

The fund's net annualized performance trailed the fund's benchmark over longer reported time periods ended June 30 with an 11.3% return over three years (benchmark, 12%); five years, 10.4% (11.8%); seven years, 7.9% (9.4%); and 10 years, 7.1% (10%).

APRS' asset allocation as of June 30 was domestic equity, 49.1%; international equity, 15.8%; real estate, 10.7%; non-core fixed income, 5.3%; core fixed income, 5.2%; multiasset funds, 5.1%; other equity, 5%; other fixed income, 1.7%; cash, 1%; timber, 0.6%; and other 0.5%, according to the performance report.

Net asset class returns in the 12 months ended June 30 were led by domestic equity, 43.5% (benchmark, 44.6%); international equity, 42.8% (36.3%); other equity, 18.8% (no benchmark); multiasset, 16.4% (18.3%); other fixed income, 15.2% (no benchmark); total fixed income (including core and non-core), -6% (2.3%); real estate (including timber), 5.8% (7.4%); and cash, 0.3% (no benchmark).

APRS' fiscal-year end is Dec. 31.