Nevada Public Employees returns 27.3% for fiscal year, above its benchmark

Nevada Public Employees' Retirement System, Carson City, reported a gross return of 27.3% for the fiscal year ended June 30, according to an investment report posted on pension fund's website.

The investment return exceeded its policy benchmark of 25.6%.

The $58.3 billion pension fund also outperformed policy benchmarks on a three-, five-, and 10-year basis, earning gross returns of 14%, 12.5% and 10.1%, respectively. The benchmark returns for the respective periods were 13.1%, 11.8% and 9.9%.

The pension fund earned a gross return of 7.2% for the fiscal year ended June 30, 2020.

Private equity was the pension fund's top-performing asset class, posting a gross return of 67.8%, followed by private markets, U.S. stocks and international stocks, which earned 41.8%, 40.7% and 33.7%, respectively.

The target allocation is 42% U.S. stocks, 28% U.S. bonds, 18% international stocks, and 12% private markets.