South Dakota system sees 22% return

South Dakota Retirement System, Pierre, had a net return of 22% for the fiscal year ended June 30, according to documents on the website for the South Dakota Investment Council, which oversees the management of the $14.6 billion pension fund.

The return was below its benchmark of 28%.

For the three, five and 10 years ended June 30, the pension fund returned an annualized net 9.1%, 9.8% and 9.1%, respectively. Benchmark information for those periods was not available.

The pension fund returned a net 1.6% for the fiscal year ended June 30, 2020, below its benchmark of 2.5%.

Individual asset class returns for the current fiscal year were not provided.

As of June 30, the pension fund's actual allocation was: 32% cash, 24% equities, 12% investment-grade fixed income, 11% private equity, 10% opportunistic real estate, 6% high-yield real estate debt, 4% aggressive high-yield corporate debt and 1% hedge funds.