Missouri Public School and Education Employee Retirement Systems, Jefferson City, returned a net 6.2% for the fiscal year ended June 30.
The pension fund's performance fell below the benchmark return of 9.3%, according to the pension plan's fiscal 2023 annual review obtained by P&I.
For the three, five and 10-year periods ended June 30, PSRS/PEERS returned an annualized net 9.8%, 7.9% and 8.2%, respectively, all above benchmark returns of 6.4%, 6.3% and 7%.
For the one-year fiscal year ended June 30, public equity was the top performer, returning a net 17.6%, followed by hedged assets which returned a net 2.5%. The pension fund's worst performers were real estate, which declined a net 6.1%, safe assets, which fell net 1.7% and private equity, which slipped net 0.7%.
So-called "safe assets" means U.S. Treasuries.
