As of December 31, 2024, the IPERS investment portfolio had a market value of $44.57 billion. IPERS’ investment return for the quarter was -0.87% (net of fees). Below are IPERS’ investment returns for various periods ending December 31, 2024, 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 | 3.56% | 8.43% | 2.30% | 7.64% | 7.72% | 7.46% | 8.61% |
| Policy Benchmark*** | 3.58% | 8.16% | 2.11% | 7.58% | 7.66% | 7.58% | 8.37% |
| CPI+3% | 1.95% | 5.97% | 7.35% | 7.32% | 6.09% | 5.64% | 5.59% |
| Actuarial Assumed Return | 3.44% | 7.00% | 7.00% | 7.00% | 7.08% | 7.29% | 7.35% |
| Median-IM All Public Funds > $1 Billion**** | 3.78% | 8.87% | 2.76% | 6.89% | 6.91% | 6.56% | 7.78% |
IPERS earned the following time-weighted returns (net of fees) by asset class for the quarter ended December 31, 2024:
| Asset class | Time-weighted returns |
|---|---|
| International Equity | -7.14% |
| Domestic Equity | 2.47% |
| Public Credit | -0.64% |
| Core Fixed Income | -3.13% |
| Global Smart Beta Equity | -3.96% |
| Cash | 3.32% |
| Private Equity | 2.00% |
| Private Credit | 2.43% |
| Private Real Assets | 0.64% |
*Fiscal Year 2025 commenced July 1, 2024.
**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.