The Hawaii Employees' Retirement System reported a 2.6% gain for its fiscal year ended June 30, helped by a 2.1% rebound in the final quarter.
For the year, the portfolio's $7.3 billion in public growth allocations returned 10.6%, more than offsetting declines of 3.8% for Hawaii's $4.1 billion in private growth exposures and 0.6% for its $6.7 billion in diversifying strategies.
While Hawaii had the third-highest return among public pension plans tracked by Pensions & Investments for the fiscal year ended June 30, 2022, at 3.7%, its latest fiscal-year return is the second lowest of the 69 plans tracked as of Sept. 22.
While the portfolio's latest results trailed its risk-lagged benchmark by 1.9 percentage points for the latest year, the $22.3 billion pension fund's annualized three year returns, at 10.5%, continued to top the benchmark by 2.2 percentage points.
Five year returns, meanwhile, stood at an annualized 7.7%, roughly 1.7 percentage points above the benchmark. Seven-year returns came to 8.57%, topping the benchmark by approximately 1.5 percentage points.
