US – The New York State Teachers’ Retirement System posted returns of 23.3% in the 12 months ended 30 June, the highest one-year return in 25 years.
Assets hit $89.9bn, up $13bn from a year earlier. The 25-year annualised return is 9%, 100 basis points above its target return.
The fund targets an allocation of 42% in domestic equity, 18% in domestic fixed income, 15% in international equity, 10% in real estate, 8% in mortgages and 7% in private equity.
Domestic equity performed the strongest with returns of 31.7% for the year, followed by international equity with returns of 30.8%. Private equity returned 23.8%; real estate, 23.6%; mortgages, 7.3% and domestic fixed income, 3.8%.
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