As of March 31, 2025, the IPERS investment portfolio had a market value of $44.66 billion. IPERS’ investment return for the quarter was 0.86% (net of fees). Below are IPERS’ investment returns for various periods ending March 31, 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 | 4.46% | 5.56% | 3.55% | 10.14% | 7.55% | 7.50% | 8.46% |
Policy Benchmark*** | 4.50% | 5.46% | 3.38% | 9.89% | 7.53% | 7.61% | 8.21% |
CPI+3% | 4.07% | 5.46% | 6.72% | 7.51% | 6.17% | 5.63% | 5.60% |
Actuarial Assumed Return | 5.21% | 7.00% | 7.00% | 7.00% | 7.06% | 7.28% | 7.35% |
Median-IM All Public Funds > $1 Billion**** | 4.26% | 5.48% | 4.01% | 9.90% | 6.66% | 6.71% | 7.59% |
IPERS earned the following time-weighted returns (net of fees) by asset class for the quarter ended March 31, 2025:
Asset class | Time-weighted returns |
---|---|
International Equity | 5.81% |
Domestic Equity | -4.96% |
Public Credit | 1.84% |
Core Fixed Income | 2.67% |
Global Smart Beta Equity | 1.79% |
Cash | -2.04% |
Private Equity | 0.77% |
Private Credit | 1.64% |
Private Real Assets | 1.69% |
*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.