Oklahoma Law Enforcement shoots past target with 28% fiscal-year return

Oklahoma Law Enforcement Retirement System, Oklahoma City, posted a preliminary net return of 28.01% for the fiscal ended June 30, according to an investment report posted on the pension fund's website.

The investment return surpassed the policy benchmark of 24.7%.

The $1.24 billion pension fund, however, fell short of its benchmark on a three-, five and 10-year basis, earning an annualized net return of 10.92%, 11.04% and 8.72%, respectively. The benchmark returns for the respective periods were 11.57%, 11% and 9.14%.

The fund returned a net 1.65% for the fiscal year ended June 30, 2020.

Domestic small-cap equity was the fund's top-performing asset class, delivering a net return of 60.05%, followed by domestic large-cap equity, non-U.S. equity, and global private equity, which earned 48.24%, 36.9% and 35.45%, respectively.

As of June 30, the fund's actual allocation was 68.14% equity, 22.54% fixed income, 8.99% real assets and 0.34% cash and equivalents. The target allocation is 65% equity, 20% fixed income and 15% real assets.