Vermont Pension Investment Committee, Montpelier, posted a preliminary fiscal year net return of 24.6% for three pension funds collectively known as the Vermont State Retirement Systems.
The investment return surpassed the policy benchmark of 22.9%, according to the committee's latest investment report.
The $5.7 billion Vermont State Retirement Systems also outperformed policy benchmarks on a three-, five- and 10-year basis, earning an annualized net of 11.2%, 10.4% and 7.6%, respectively. The benchmark returns for the respective periods were 10.7%, 9.8% and 7.2%.
Vermont State Retirement Systems returned a net 4% for the fiscal year ended June 30, 2020.