South Carolina Retirement System Investment Commission, Columbia, posted a net return of 10.5% for the fiscal year ended June 30, above its 9.2% benchmark, according to documents from its Sept. 12 meeting.
For the three, five and 10 years ended June 30, the commission returned an annualized net 5.3%, 8.1% and 6.7%, respectively, ahead of the respective benchmark returns of 3%, 6.5% and 6%.
The RSIC, which manages the $44.9 billion South Carolina Retirement Systems' investment portfolio, returned a net 6.8% for the fiscal year ended June 30, 2023.
By asset class, public equity led the way with a net 18.8% return (above its 18.4% benchmark); followed by private debt at 11.4% (14%); private equity at 5.8% (5.2%); bonds at 3% (2.6%); and real assets at -2.3% (-10%).
As of June 30, the actual allocation was 43.9% public equity (46% target), 23.8% bonds (26% target), 13.1% private equity (9% target), 10.9% real assets (12% target) and 8.2% private debt (7% target).
