As of June 30, 2023, the IPERS investment portfolio had a market value of $41.13 billion. IPERS’ investment return for the quarter was 2.37% (net of fees). Below are IPERS’ investment returns for various periods ending June 30, 2023, 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 | 5.41% | 5.41% | 9.51% | 8.03% | 8.12% | 7.95% | 8.36% |
| Policy Benchmark*** | 5.27% | 5.27% | 9.27% | 8.06% | 8.05% | 8.06% | 8.08% |
| CPI+3% | 6.06% | 6.06% | 8.95% | 7.02% | 5.79% | 5.65% | 5.60% |
| Actuarial Assumed Return | 7.00% | 7.00% | 7.00% | 7.00% | 7.15% | 7.33% | 7.33% |
| Median-IM All Public Funds > $1 Billion**** | 7.64% | 7.64% | 8.27% | 6.22% | 6.94% | 6.96% | 7.43% |
IPERS earned the following time-weighted returns (net of fees) by asset class for the quarter ended December 31, 2023:
| Asset class | Time-weighted returns |
|---|---|
| International Equity | 3.08% |
| Domestic Equity | 8.03% |
| Public Credit | 1.77% |
| Core Fixed Income | -0.94% |
| Global Smart Beta Equity | 3.66% |
| Cash | 2.76% |
| Private Equity | 1.60% |
| Private Credit | 1.85% |
| Private Real Assets | -2.86% |
*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.