The pension fund benefited from strong returns in the latest fiscal year for both public equity strategies and multiasset public strategies. For the year ended June 30, the Russell 3000 and Bloomberg U.S. Aggregate Bond index returned 19% and -0.2%, respectively, landing well above returns of -13.9% and -10.3% for the fiscal year prior.
By asset class, the top performer was public equity strategies, with a net return of 15.6% (below its benchmark return of 16.7%); followed by multiasset public strategies, 7.7% (above its 7.4% benchmark); total credit strategies, 5.7% (9.2%); private investment partnerships, 1.9% (1.1%); real assets, 1.7% (-0.7%); fixed income, 0.5% (-0.1%); and private equity -0.7% (-7.3%).
As of Aug. 16, the actual allocation was 32.2% public equity strategies, 18.1% private equity, 13.8% credit strategies, 13.5% real assets, 13.1% fixed income, 3.7% multiasset public strategies, 2.6% private investment partnerships, 2.1% cash and 0.9% exposure management portfolio.
The target allocation is 34% public equity strategies, 16% private equity, 15% fixed income, 14% credit strategies, 14% real assets, 4% multiasset public strategies, 2% private investment partnerships, 1% cash and zero for management portfolio.
