New Hampshire Retirement System, Concord, posted a net audited return of 8.8% for the fiscal year ended June 30, beating the assumed rate of return of 6.75% but trailing the benchmark of 11.9%.
The results were announced Oct. 28 for the pension system whose $12.2 billion in assets for the recently- completed fiscal year were 6.1% higher than the $11.5 billion for the fiscal year ended June 30, 2023. The net return was 8.2% for the fiscal year ended June 30, 2023.
“This year’s return reflects the diligent efforts of the Independent Investment Committee and NHRS staff to navigate the uncertainties posed by market volatility, inflation, and geopolitical instability,” said NHRS Executive Director Jan Goodwin in a news release accompanying the results. “Our primary focus is to meet or exceed the retirement system’s assumed rate of return of 6.75% over the long term.”
The net three-year, five-year, 10-year and 25-year annualized returns for the periods ended June 30, 2024, were 3.4%, 7.7%, 7.0% and 6.3%, respectively.
As of June 30, on a preliminary basis, the actual allocation was 32.4% domestic equity, 19.2% fixed income, 19% non-U.S. equity, 13.8% private equity, 9.3% real estate, 4.7% private credit and 1.6% in cash, the pension system reported in August.
By asset class, the top performers were domestic equity (19% net return), followed by non-U.S. equity (11.3%), cash (5.5%), private credit (4.7%), fixed income (3.5%) and private equity (3.4%).
Real estate was the worst performer at a net -7.1%.
Detailed data for the fiscal year ended June 30, 2024, will be available In December via the Annual Comprehensive Financial Report and the Comprehensive Annual Investment Report.
