The $3.4 billion City of Austin Employees' Retirement System (COAERS) has recorded a 26.3 percent net return for the fiscal year ending June 30.
According to a recent performance report from RVK, optimism from reopening efforts, lifted mask mandates and the proposed $1 trillion bipartisan U.S. infrastructure spending bill was balanced with concerns regarding emerging variants of the coronavirus and increasing inflation. Global-equity markets provided strong gains in the second quarter and were joined by commodities and REITs.
Aggregate fixed-income markets generally trailed, although issues with maturities that are longer or inflation-linked fared better.
Key inflation indicators experienced significant year-over-year increases in the second quarter, but many forecasters view these elevated levels as transitory. Overall, economic recovery continues to advance,
