Oklahoma Law Enforcement Retirement System, Oklahoma City, posted a preliminary net return of 8.7% for the fiscal ended June 30, according to an investment report posted on the pension fund’s website.
The investment return fell short of the policy benchmark of 10.6%.
The $1.1 billion pension fund also missed its benchmark on a three-, five- and ten-year basis, earning an annualized net of 1.3%, 6.4% and 6.1%, respectively. The benchmark returns for the respective periods were 3.2%, 7.5% and 6.9%.
The fund returned a net 6.6% for the fiscal year ended June 30, 2023.
U.S. large-cap equity was the fund’s top-performing asset class, delivering a net return of 22.2%, followed by U.S. small-cap equity and non-U.S. equity, which earned 13.6% and 9.1%, respectively. Their respective benchmarks were 24.6%, 10.1% and 11.6%.
As of June 30, the fund’s actual allocation was 63.8% equity, 24.3% fixed income, 11.6% real assets and 0.3% cash and equivalents. The target allocation is 62.5% equity, 25% fixed income and 12.5% real assets.
