Indiana Public Retirement System returned a net 7.35% for the fiscal year ended June 30, surpassing its 6.73% benchmark.
Indiana Public Retirement System, Indianapolis, returned a net 7.35% for the fiscal year ended June 30, showed an investment report posted on the pension fund's website.
The system's $30.4 billion defined benefit plan exceeded its policy benchmark return of 6.73%.
For the three and five years ended June 30, the pension fund returned an annualized net 8.21% and 5.09% respectively, compared to the respective benchmark returns of 7.16% and 4.54%. For the 10 years ended June 30, the pension fund returned an annualized net 7.77%; a benchmark return was not provided.
The DB plan returned a net 9.3% for the fiscal year ended June 30, 2018.
By asset class, private markets led the way with a net return of 20.4% for the fiscal year ended June 30 (above its benchmark return of 3.7%), followed by fixed income (ex-inflation linked) at 9.99% (above its 9.89% benchmark), real estate at 8.67% (16.09%), risk parity at 8.43% (6.22%), fixed income (inflation linked) at 5.66% (5.17%), cash and cash overlay at 5.56% (6.91%), global public equity at 5.38% (4.56%), absolute return at 4.24% (1.75%) and commodities at -8.16% (-8.04%).
As of June 30, the actual allocation was 21.3% global public equity, 20.1% fixed income (ex-inflation linked), 13.2% risk parity, 12.5% private markets, 9.6% absolute return, 7.6% commodities, 7.4% fixed income (inflation linked), 6% real estate, and 2.3% cash and cash overlay.
INPRS spokesman Jeffrey Hutson could not be immediately reached to provide further information.
