The five defined benefit plans overseen by the Nebraska Investment Council, Lincoln, returned a net 29.9% for the fiscal year ended June 30.
The plans, which have a combined $16.4 billion in assets, exceeded their 26.3% benchmark.
For the three, five and 10 years ended June 30, the pension funds returned an annualized gross 12.3%, 11.8% and 9.5%, respectively, above or on par with the respective benchmarks of 12.3%, 11.6% and 9.3%.
The funds returned 2.2% for the fiscal year ended June 30, 2020.
For the most recent fiscal year, the best-performing asset class was private equity, which had a return of 54.5% (above its benchmark of 48.5%), followed by global equity at 48.4% (40.9%); U.S. equity at 45.1% (44.3%); non-U.S. equity at 37.3% (37.2%); real estate at 4.1% (7.1%); and fixed income at 3.7% (1.1%).
As of June 30, the actual allocation was 30.1% U.S. equity; 26% fixed income; 21.1% global equity; 11.6% non-U.S. equity; 5.9% private equity; 5.2% real estate; and the rest in cash.
