Quarter Ending December 31, 2023

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As of December 31, 2023, the IPERS investment portfolio had a market value of $42.21 billion. IPERS’ investment return for the quarter was 5.84% (net of fees). The tables on this page show IPERS’ investment returns for various periods ending December 31, 2023, compared to the System’s official long-term performance objectives.

 Fiscal Year to Date1One YearThree Years2Five YearsTen YearsTwenty YearsThirty Years
IPERS Return4.17%10.45%5.51%9.40%7.62%7.62%8.32%
Policy Benchmark34.19%10.41%5.32%9.32%7.64%7.70%8.08%
Actuarial Assumed Return3.44%7.00%7.00%7.00%7.13%7.31%7.34%
Median-IM All Public Funds > $1 Billion44.49%11.40%4.47%8.28%6.34%6.55%7.37%
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IPERS earned the following time-weighted returns (net of fees) by asset class for the quarter ended December 31, 2023:

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International Equity9.22%
Domestic Equity12.01%
Public Credit7.90%
Core Plus Fixed Income6.59%
Global Smart Beta Equity10.73%
Private Equity0.53%
Private Credit2.15%
Private Real Assets-4.41%


1Fiscal year 2024 commenced July 1, 2023.

2Returns for periods longer than one year are annualized.

3The policy benchmark is a passively managed set of market indexes, with appropriate weightings, that are reflective of IPERS’ target asset allocation.

4The median return of the Investment Metrics’ Universe of All Public Funds with Assets Greater than $1 billion.