US - The Teachers' Retirement System of the State of Illinois (TRS) increased its assets by $2.5bn as it achieved a 12.2% return on investments during the fiscal year ended June 30, 2006.
The fund beat its benchmark of 11.3% thanks largely to impressive returns from its international equity (27.7%) and private equity (26.4%) portfolios. Real estate also proved lucrative with returns of 19.7%.
Less impressive were the returns on domestic equity (9.8%) and fixed income (0.2%), especially given the fact TRS had allocated 65% of it's entire portfolio there.
TRS said its return placed it in the top quartile of the Wilshire Trust Universe Comparison Service (TUCS) for the one, three, five, and 10-year time periods.
Cynthia O’Neill, elected trustee of the Teachers' Retirement System Board of Trustees said TRS had continued to maintain a well-diversified investment portfolio aimed at minimising risk and maximising total returns.
TRS achieved annualised returns of 13.4% for the three years ended June 30, 8.3% for the five-year period, and 9.4% over 10 years.
As of June 30, TRS held 42% of its assets in domestic equity, 23% in fixed income, 19% in international equities, 11% in real estate investments, and 4% in private equity.
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