Texas Municipal Retirement System's preliminary net returns were above the pension fund's benchmarks for reported time periods ended June 30, an investment report showed.
For the year ended June 30, the preliminary net return for the $30 billion Austin-based retirement system was 0.7% compared with -0.1% for the actual asset allocation benchmark.
TMRS returned 5.4% for the year ended June 30, 2019. The pension fund's fiscal year ends Dec. 31.
Preliminary net annualized returns for longer periods were 4.5% for three years (benchmark, 4.1%); five years, 5.1% (4.7%); seven years, 5.9% (5.6%); 10 years, 6.3% (6%); and for 15 years, both the fund and the benchmark returned 5.2%.