Mississippi Public Employees scores 32.7% fiscal-year return

Mississippi Public Employees' Retirement System, Jackson, reported a gross return of 32.71% for the fiscal year ended June 30, according to an investment report posted on the pension fund's website.

The investment return exceeded the policy benchmark of 27.94%.

The $35.6 billion pension fund also beat policy benchmarks on a three-, five and 10-year basis, earning annualized gross returns of 13.59%, 13.03% and 10.07%, respectively. The benchmark returns for the respective periods were 12.5%, 12.07% and 9.43%.

The Mississippi pension fund earned a gross return of 3.35% for the fiscal year ended June 30, 2020.

Private equity was the fund's top-performing asset class, delivering a gross return of 58.87%, followed by domestic equities, international equities and global equities, which earned 46.83%, 40.42% and 39.03%, respectively.

As of June 30, the fund's actual allocation was 27.42% domestic equities, 21.51% non-U.S. equities, 18.6% fixed income, 12.37% global equity, 10.1% private equity, 8.82% real estate and 1.19% cash. The target allocation is 61% equities, 20% fixed income, 10% private real estate, 8% private equity and 1% cash.