The $52.7 billion Illinois Teachers' Retirement System, Springfield, returned a net 5.15% in the fiscal year ended June 30, trailing the fund's 7.16% policy benchmark.
By comparison, the defined benefit plan's net return for the fiscal year ended June 30, 2018, was 8.45%, topping the 8.19% return of the benchmark.
Over longer time periods ended June 30, net returns of the fund were three years, 8.68% (benchmark, 8.91%); five years, 5.94% (6.72%); seven years, 8.48% (8.86%); 10 years, 9.53% (9.59%); and 20 years, 6.28% (6.23%).
Net returns by asset class for the fiscal year ended June 30 were led by private equity with a 12.33% return (benchmark, 12.23%), followed by opportunistic real estate, 8.23% (6.51%); income (including private debt), 7.04% (7.42%); public equities, 2.88% (4.56%); diversifying strategies, 2.13% (6.4%); and real assets (including core and value-added real estate), 1.57% (6.57%).
