US - The Idaho Public Employee Retirement System (PERSI) ended the fiscal year at US$10.9bn having dropped -4.2% in 12 months.
Maynard said: "It could have been worse in that PERSI once again substantially outperformed its policy benchmark (55% Russell 3000, 15% EAFE, and 30% Lehman Aggregate) by 2.15%."
"Strategic biases added 3.8% to total fund returns, led by emerging markets (1.1%), private equity (1.0%), TIPS (0.7%) and global equities (0.5%)," Maynard clarified.
International equity and the fund's fixed income holdings also beat their relevant benchmarks
Fixed income gave 9.7% over the fiscal year, the only asset class to produce a positive return.
Global equities underperformed for the first time in a decade, dragging the fund value down by -0.7%, US equities took off a further -0.4% and emerging markets -0.2%.
Private equity, Barings and Fortis were hailed as 'stars of the year' by Maynard.
At the end of June, PERSI held 54% in US and global equities, 8% in international equities, 7% in emerging markets and 30% fixed income.
The directors of collapsed construction giant Carillion were "contemptuous" of funding their defined benefit (DB) pension schemes, and "refused to give an inch", Frank Field has alleged.
The PPF 7800 deficit was slashed in half last month as gilt yields rose. Victoria Ticha asks if this is the start of a longer trend
Frank Field is to warn Sir Philip Green not to sell his Arcadia business without ensuring defined benefit (DB) pensions are adequately protected, PP can confirm.
Some 79% of people would like to see stricter rules and checks to ensure pension pots are secure, according to a survey by the Pensions and Lifetime Savings Association (PLSA).