Connecticut Retirement Plans & Trust Funds, Hartford, returned a net 10.3% in calendar 2024, said an April 9 release. The performance fell below the benchmark of 12.6%, according to materials included in the March 12 meeting of the Investment Advisory Committee.
In calendar 2023, CRPFT returned a net 12.8%.
For the three-, five-, seven- and 10-year periods ended Dec. 31, 2024, the pension fund delivered annualized net returns of 3.7%, 6.8%. 6.5% and 7%, compared to respective benchmarks of 4.2%, 7.1%, 6.8% and 7%.
“In the face of federal trade and economic policies that are destabilizing markets and driving up costs for Connecticut families, we remain steadfast in our commitment to fiscal discipline and sound investment principles that protect our pension funds and the retirement security of Connecticut’s teachers and other dedicated public servants,” said Erick Russell, state treasurer and principal fiduciary of the $59.3 billion pension fund, in the release.
As of Dec. 31, the pension fund’s actual asset allocation comprised 48.7% global equities (37% target); 14.6% core fixed income (13%); 11.6% private investments (15%); 6.2% real estate (10%); 5.5% private credit (10%); 5.1% noncore fixed income (2%); 4.2% absolute return/risk mitigating strategies (5%); 3.2% infrastructure and natural resources (7%); and 0.9% liquidity assets (1%).
By asset class, the top performers were global equity (net 17.4%); private credit (9.5%); private investments (8.1%); noncore fixed income (7.3%); infrastructure and natural resources (5.6%); core fixed income (2.2%).
The poorest performers were real estate, which returned a net -2.7%, and absolute return/risk mitigating strategies (-1%).
CRPTF’s fiscal year ends on June 30. For the 12-month period ended June 30, 2024, the pension fund returned a net 11.5%.
