Quarter ending March 31, 2024

As of March 31, 2024, the IPERS investment portfolio had a market value of $43.42 billion. IPERS’ investment return for the quarter was 3.59% (net of fees). Below are IPERS’ investment returns for various periods ending March 31, 2024, compared to the System’s official long-term performance objectives.

IPERS investment portfolio
 Fiscal Year to Date*One YearThree Years**Five YearsTen YearsTwenty YearsThirty Years
IPERS Return7.91%10.47%5.28%8.72%7.75%7.64%8.51%
Policy Benchmark***7.79%10.35%5.09%8.65%7.73%7.72%8.28%
CPI+3%4.66%6.58%8.82%7.33%5.91%5.66%5.61%
Actuarial Assumed Return5.21%7.00%7.00%7.00%7.11%7.31%7.34%
Median-IM All Public Funds > $1 Billion****8.76%11.53%4.51%7.71%6.71%6.71%7.93%

IPERS earned the following time-weighted returns (net of fees) by asset class for the quarter ended March 31, 2024:

Time weighted returns by asset class
Asset classTime-weighted returns
International Equity4.98%
Domestic Equity10.49%
Public Credit1.72%
Core Fixed Income-0.82%
Global Smart Beta Equity7.30%
Cash6.92%
Private Equity2.43%
Private Credit2.15%
Private Real Assets-0.74%

*Fiscal Year 2024 commenced July 1, 2023.

**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.