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%.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point