Idaho Public Employee Retirement System, Boise, returned a gross 8.4% and a net 8.1% for the fiscal year ended June 30, Chief Investment Officer Bob Maynard confirmed in an email.
The $18.5 billion pension fund's gross return was above the fund's 7.8% benchmark.
The best-performing asset class was private equity, which returned a gross 14.2% for the fiscal year ended June 30, followed by real estate investment trusts, which returned 13%; domestic equity, 11%; private real estate, 10.9%; Idaho mortgages, 10%; global equities, 8.7%; fixed income, 7.5%; Treasury inflation-protected securities, 4.9%; and international equities, 2.5%.
The pension fund's annualized gross returns for the three, five and 25 years ended June 30 were 9.9%, 6.9% and 8.5%, respectively. The one-year gross return for the fiscal year ended June 30, 2018, was 8.7%; the net return was 8.4%.
As of June 30, the actual allocation was 25.5% domestic equities; 16.8% global equities; 14.8% international equities; 14.1% fixed income; 9.3% real estate; 8.8% TIPS; 5.9% private equity; 4.5% Idaho mortgages; and 0.3% cash.