Georgia Employees returns 5.5% for fiscal year

Georgia Employees' Retirement System, Atlanta, returned a net 5.5% for the fiscal year ended June 30, said James Potvin, executive director.

For the three, five and 10 years ended June 30, the $16.7 billion retirement system returned an annualized net 7.2%, 7% and 9.2%.

The retirement system returned a net 6.9% for the fiscal year ended June 30, 2019.

Mr. Potvin said benchmark information, asset allocation information and asset class returns will be published in the pension fund's comprehensive financial annual report in mid-October.

The retirement system's target allocation is 46.2% domestic large-cap equities, 30% fixed income, 12.4% international developed markets equities, 5.1% emerging markets equities, 5% alternatives and 1.3% domestic small-cap equities.

The retirement system's defined benefit investment pool consists of eight pension funds, including the $13.5 billion Employees Retirement System, $959 million Public School Employees Retirement System and $486 million Georgia Judicial Retirement System.