Downtown Baton Rouge
Louisiana State Employees' Retirement System, Baton Rouge, returned -7.2% for the fiscal year ended June 30, according to a performance summary on its website.
The $12.4 billion pension fund returned an annualized 6.6%, 6.7% and 7.8% for the three, five and 10 years ended June 30, respectively.
The performance summary did not provide benchmark information.
LASERS had returned a gross 35.6% for the fiscal year ended June 30, 2021.
For the most recent fiscal year, LASERS' negative return reflects a challenging environment for during the past year. Of the 50 public pension plans tracked by Pensions & Investments as of Friday, the median return for the year ended June 30 was -4.7%.
For the year ended June 30, the Russell 3000 index and Bloomberg U.S. Aggregate Bond index returned -13.9% and -10.3%, respectively, in sharp contrast to returns of 44.2% and 4.6% for the year ended June 30, 2021.
By asset class, total alternatives returned a net 10.7% for the fiscal year ended June 30, while total fixed income returned -3.6% and total equities returned a gross -15.8%. The performance summary said the return for fixed income was a mix of gross-of-fee and net-of-fee portfolios.
As of June 30, the pension fund's actual allocation was 23.6% private markets, 21.1% domestic large-cap equities, 11.8% global multisector strategies, 8.9% international large-cap equities, 8.2% emerging markets equities, 4.9% domestic small-cap equities, 4.7% international small-cap equities, 4.3% absolute return, 4.2% domestic midcap equities, 3.9% emerging markets debt, 2.4% core fixed income, 1.1% high-yield fixed income and 0.9% cash equivalents.
