US - The Teachers' Retirement System of the State of Illinois (TRS) earned a bumper 19.6% on its investments during the fiscal year ended 30 June 2007.
TRS said this was a level not seen since the 1980s and among the highest in TRS history. It means TRS assets rose to a record high of US$41.8bn, up from $36.5bn a year ago.
Overall, TRS earned annualised returns of 14.3% for the three years ended 30 June 2007, 12.9% for the five year period and 9.5% over the 10-year period.
The TRS Total Fund also substantially outperformed its performance benchmark of 17.9% for the one year period ending 30 June 2007.
In terms of the performance of different asset classes held by TRS, private equity led with a 31.3% return in 2007. Meanwhile, international equity posted a 30.0 return and real estate earned a 26.2% return for the same period.
Cynthia O’Neill, TRS investment committee vice-chair, said the TRS Trust Fund was structured in a way that enabled it to effectively weather changing market conditions and continue achieving excellent returns.
Molly Phalen, TRS board of trustees vice-president, said: “TRS does its homework and, as a result the system is poised for continued success.”
TRS serves 325,000 members and annuitants.
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