As of December 31, 2022, the IPERS investment portfolio had a market value of $39.34 billion. IPERS’ investment return for the quarter was 4.49% (net of fees). Below are IPERS’ investment returns for various periods ending December 31, 2022, compared to the System’s official long-term performance objectives.
| Fiscal Year to Date* | One Year | Three Years** | Five Years | Ten Years | Twenty Years | Thirty Years | |
|---|---|---|---|---|---|---|---|
| IPERS Return | -0.60% | -10.61% | 6.46% | 7.01% | 7.93% | 8.07% | 8.32% |
| Policy Benchmark*** | -0.67% | -10.85% | 6.46% | 7.04% | 7.91% | 8.26% | 8.12% |
| CPI+3% | 1.66% | 9.65% | 8.07% | 6.89% | 5.68% | 5.58% | 5.56% |
| Actuarial Assumed Return | 3.44% | 7.00% | 7.00% | 7.00% | 7.18% | 7.34% | 7.33% |
| Median-IM All Public Funds > $1 Billion**** | -0.84% | -11.39% | 4.27% | 4.91% | 6.84% | 7.15% | 7.46% |
IPERS earned the following time-weighted returns (net of fees) by asset class for the quarter ended December 31, 2022:
| Asset class | Time-weighted returns |
|---|---|
| International Equity | 14.59% |
| Domestic Equity | 7.30% |
| Public Credit | 5.43% |
| Core Fixed Income | 2.52% |
| Global Smart Beta Equity | 12.68% |
| Cash | -4.09% |
| Private Equity | -1.39% |
| Private Credit | 1.11% |
| Private Real Assets | -1.82% |
*Fiscal Year 2023 commenced July 1, 2022.
**Returns for periods longer than one year are annualized.
***The policy benchmark is a passively managed set of market indexes, with appropriate weightings, that are reflective of IPERS' target asset allocation.
****The media return of the Investment Metrics' Universe of All Public Funds with Assets Greater than $1 billion.