Oklahoma Teachers' Retirement System, Oklahoma City, posted a net return of 33% for the fiscal year ended June 30, said Sarah Green, executive director of the $22 billion pension fund, in an email.
The record return exceeds the pension fund's benchmark return of 31.3% and the fund's 7% assumed rate of return.
The pension fund returned a net 1.3% in the fiscal year ended June 30, 2020.
The Oklahoma pension fund attributed the high performance to "extraordinary public equity market gains and an overweight to the asset class" in a report distributed at a board meeting July 21. "The domestic small-cap overweight was a significant contributor to outperforming the domestic equity benchmark," the report said.