Oklahoma Law Enforcement collars 6.6% return for fiscal year

Oklahoma Law Enforcement Retirement System, Oklahoma City, posted a preliminary net return of 6.6% for the fiscal year 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 8.9%.

The $1.1 billion pension fund also missed its benchmark on a three-, five- and 10-year basis, earning an annualized net of 7.2%, 5.6% and 6.9%, respectively. The benchmark returns for the respective periods were 7.7%, 6.8% and 7.5%.

The pension fund returned a net -10.1% for the fiscal year ended June 30, 2022.

U.S. large-cap equity was the pension fund's top-performing asset class, delivering a net return of 18.7%; followed by U.S. small-cap equity, 15.6%; and non-U.S. equity, 12.1%. Their respective benchmarks were 19.6%, 12.3% and 13.3%.

As of June 30, the fund's actual allocation was 68.2% equity, 19.5% fixed income, 12.2% real assets and 0.1% cash and equivalents. The target allocation is 65% equity, 20% fixed income and 15% real assets.