By asset class, the system’s public equity investments earned 28.76%, while private equity earned 24.45%. Fixed income posted a 4.80% gain, while credit investments earned 13.46%. Real return earned 13.11% and absolute return posted an 8.54% gain. The system’s real estate investments earned 23.30% for the fiscal year.
The system’s asset allocation is:
- Public equity – 47.23%;
- Private equity – 4.31%;
- Fixed income – 20.33%;
- Credit – 5.86%;
- Real return – 10.4%;
- Real estate – 5.77%;
- Absolute return – 4.36%; and
- Cash – 1.74%.
“The fund was positively impacted by the continued market recovery this year,” said Dr. Melissa Moye, Interim Chief Investment Officer, in a press release. “At the same time, the board and the Investment Division continue to diversify the fund to limit volatility relative to the market.”