Louisiana Firefighters posts 24.9% return for fiscal year

Louisiana Firefighters' Retirement System, Baton Rouge, returned a net 24.9% for the fiscal year ended June 30.

The $2.2 billion pension fund's return exceeded its policy benchmark of 24% for the period, an investment report posted on its website shows.

For the three and five years ended June 30, the pension fund returned an annualized net 10.2% and 10.2%, respectively, below the respective benchmarks of 11% and 10.9%. For the 10 years ended June 30, the pension fund reported an annualized net return of 6.4% and did not report benchmark information.

The pension fund returned a net 3.2% for the fiscal year ended June 30.

For the most recent fiscal year, global equities had the best net return among asset classes for the year ended June 30, with a net return of 44.7% (above the 39.3% benchmark return), followed by domestic equities, with a net return of 43.4% (below its 44.2% benchmark).

Other asset class returns were emerging markets equities, returning a net 42.2% for the fiscal year ended June 30 (above its 40.9% benchmark); international equities, with a net 41.4% (35.7%); private equity, 33.1% (47.4%); global asset allocation, 24.8% (22.5%); emerging markets debt, 8.1% (7.1%); U.S. Treasury inflation-protected securities, 6.5% (6.5%); core fixed income, -0.1 (-0.3%); and real estate, 0.4% (2.6%).

As of June 30, the actual allocation was 27.8% domestic equities, 19.5% core fixed income, 11.8% international equities, 10.2% global equities, 7.3% GAA, 7% emerging markets equities, 5.3% real estate, 3.7% private equity, 3.5% emerging markets debt, 3% U.S. TIPS and the rest in cash.