As of March 31, 2023, the IPERS investment portfolio had a market value of $40.46 billion. IPERS’ investment return for the quarter was 3.58% (net of fees). Below are IPERS’ investment returns for various periods ending March 31, 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 | 2.96% | -4.79% | 11.60% | 7.75% | 7.87% | 8.33% | 8.30% |
| Policy Benchmark*** | 2.83% | -5.07% | 11.25% | 7.84% | 7.89% | 8.51% | 8.09% |
| CPI+3% | 4.15% | 8.13% | 8.51% | 6.99% | 5.71% | 5.57% | 5.58% |
| Actuarial Assumed Return | 5.21% | 7.00% | 7.00% | 7.00% | 7.16% | 7.33% | 7.33% |
| Median-IM All Public Funds > $1 Billion**** | 4.67% | -4.47% | 11.19% | 6.30% | 6.88% | 7.54% | 7.43% |
IPERS earned the following time-weighted returns (net of fees) by asset class for the quarter ended March 31, 2023:
| Asset class | Time-weighted returns |
|---|---|
| International Equity | 6.92% |
| Domestic Equity | 7.48% |
| Public Credit | 2.52% |
| Core Fixed Income | 3.17% |
| Global Smart Beta Equity | 4.09% |
| Cash | -1.10% |
| Private Equity | 0.11% |
| Private Credit | 2.01% |
| Private Real Assets | -0.81% |
*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.