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Administration October 29, 2007
Illinois Teachers' Fund Sees 19.6% Returns for Fiscal Year
October 29, 2007 (PLANSPONSOR.com) - A new report
shows that the Illinois Teachers' Retirement System saw a
19.6% gain from its investments at the fiscal year's end in
June, the highest returns reaped by the pension fund in three
decades, the Financial News reported.
Reported by Adrien Martin
The $3.8 billion return was mostly driven by private equity and offshore investments, according to the news report. Pension assets for the teachers’ fund are now $41.9 billion. The figures were released by trustees of the retirement system.
Private equity, which accounts for 4.6% of the fund, outperformed all its other investments with a 31.3% return, while the fund’s international equity holdings generated a 30% return, real estate investments returned 26.2%, and domestic equities holdings returned 19.6%. Fixed income holdings, which only account for 19% of the fund, returned 6%.
According to the Financial News, the Illinois fund’s returns were in line with other large U.S. pension programs. The California Public Employees’ Retirement Fund saw 19.1% returns and the California State Teachers’ Retirement System returned 21%.