Oklahoma Public Employees Retirement System, Oklahoma City, posted a gross return of 12.7% for the fiscal year ended June 30, according to an investment report prepared by Verus.
The one-year return edged past the policy benchmark of 12.5%.
Joseph Fox, executive director of the $12.2 billion pension fund, said OPERS was able to exceed its benchmark for the one-year period due to a favorable asset allocation position as well as favorable active manager performance in the U.S. large-cap equity segment of the portfolio.
OPERS also beat its policy benchmark on a three-, five- and 10-year basis, earning gross returns of 2.2%, 7.5% and 6.8%, respectively. The benchmark returns for the respective periods were 2%, 7.1% and 6.6%.
The fund earned a gross return of 10.9% for the fiscal year ended June 30, 2023.
The report did not provide performance by asset class.
As of June 30, the actual allocation was 41.1% U.S. equity, 30.1% U.S. fixed income, 28.4% international equity, 0.3% cash and 0.1% real estate. The target allocation is 40% U.S. equity, 32% U.S. fixed income and 28% international equity.
