Hawaii Employees' Retirement System, Honolulu, returned a gross 1.3% for the fiscal year ended June 30.
The $17.2 billion pension fund's return exceeded its benchmark of 0.7%, according to a performance report posted on its website.
For the three and five years ended June 30, the pension fund returned an annualized gross 5% and 5.5%, respectively, above the respective benchmarks of 4.3% and 4.9%.
The pension fund returned a gross 5.8% for the fiscal year ended June 30, 2019.