Agency Earns 20.04% on Investments in FY2011
Exceeds 7.75% assumed return.
The Board of Trustees of the Maryland State Retirement and Pension System has been informed that its portfolio returned 20.04 percent on investments for the fiscal year that just ended June 30, 2011—exceeding the 7.75 percent assumed actuarial return rate. The performance raised the assets of the system to $37.5 billion—a total gain of $6 billion for the year.
“The fund was positively impacted by the continued market recovery this year,” said Dr. Melissa Moye, Interim Chief Investment Officer. “At the same time, the board and the Investment Division continue to diversify the fund to limit volatility relative to the market.”
Allocation and return percentages, by class
Asset Allocation Return
Public Equity 47.23 28.76
Private Equity 4.31 24.45
Fixed Income 20.33 4.80
Credit 5.86 13.46
Real Return 10.40 13.11
Real Estate 5.77 23.30
Absolute Return 4.36 8.54
Cash 1.74 3.43
Total 100 20.0
“The board is very pleased with the fund’s performance and the resulting gains in assets,” said State Treasurer Nancy K. Kopp, Chair of the Maryland State Retirement and Pension System Board of Trustees. “The staff of the Investment Division has done an excellent job in managing the system’s prudently diversified asset allocation.”
Michael D. Golden
The Maryland State Retirement and Pension System is charged with the fiduciary responsibility for properly administering the retirement and pension allowances of 116,000 retirees and beneficiaries as well as the future benefits for over 251,500 active participating members. These groups include state government employees, teachers, law enforcement personnel, legislators, judges and local government employees and fire fighters whose employers have elected to participate in the system.