As of June 30, 2025, the IPERS investment portfolio had a market value of $46.68 billion. IPERS’ investment return for the quarter was 5.18% (net of fees). Below are IPERS’ investment returns for various periods ending June 30, 2025, 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 | 9.87% | 9.87% | 8.10% | 9.49% | 8.06% | 7.64% | 8.41% |
| Policy Benchmark*** | 9.85% | 9.85% | 7.95% | 9.29% | 8.06% | 7.76% | 8.17% |
| CPI+3% | 5.75% | 5.75% | 5.96% | 7.72% | 6.15% | 5.64% | 5.60% |
| Actuarial Assumed Return | 7.00% | 7.00% | 7.00% | 7.00% | 7.05% | 7.28% | 7.35% |
| Median-IM All Public Funds > $1 Billion**** | 10.23% | 10.23% | 9.08% | 8.87% | 7.16% | 6.79% | 7.55% |
IPERS earned the following time-weighted returns (net of fees) by asset class for the quarter ended June 30, 2025:
| Asset class | Time-weighted returns |
|---|---|
| International Equity | 11.86% |
| Domestic Equity | 10.99% |
| Public Credit | 8.43% |
| Core Fixed Income | 3.57% |
| Global Smart Beta Equity | 1.43% |
| Cash | -3.89% |
| Private Equity | 0.86% |
| Private Credit | 1.89% |
| Private Real Assets | 0.94% |
*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 median return of the Investment Metrics' Universe of All Public Funds with Assets Greater than $1 billion.