As of September 30, 2023, the IPERS investment portfolio had a market value of $40.16 billion. IPERS’ investment return for the quarter was -1.57% (net of fees). Below are IPERS’ investment returns for various periods ending September 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 | -1.57% | 9.05% | 6.75% | 7.08% | 7.51% | 7.72% | 8.18% |
| Policy Benchmark*** | -1.72% | 8.80% | 6.48% | 7.06% | 7.45% | 7.80% | 7.91% |
| CPI+3% | 1.63% | 6.81% | 8.92% | 7.17% | 5.86% | 5.65% | 5.61% |
| Actuarial Assumed Return | 1.71% | 7.00% | 7.00% | 7.00% | 7.14% | 7.32% | 7.34% |
| Median-IM All Public Funds > $1 Billion**** | -1.94% | 9.76% | 5.76% | 5.26% | 6.19% | 6.78% | 7.26% |
IPERS earned the following time-weighted returns (net of fees) by asset class for the quarter ended September 30, 2023:
| Asset class | Time-weighted returns |
|---|---|
| International Equity | -3.33% |
| Domestic Equity | -3.06% |
| Public Credit | -0.26% |
| Core Fixed Income | -3.20% |
| Global Smart Beta Equity | -2.59% |
| Cash | 2.61% |
| Private Equity | 1.79% |
| Private Credit | 2.05% |
| Private Real Assets | -0.70% |
*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 media return of the Investment Metrics' Universe of All Public Funds with Assets Greater than $1 billion.