Indiana Public Retirement System’ defined benefit portfolio reports negative return

The Indiana Public Retirement System (INPRS) has reported a negative return of 4.95 percent return on its defined benefit (DB) portfolio for fiscal year-to-date 2023.

In a recent board meeting document from Dec. 9, INPRS said the DB portfolio is underperforming the target benchmark by 0.52 percent for fiscal year-to-date 2023. However, it is outperforming the target benchmark by 0.23 percent annually during the trailing three years and 0.29 percent annually during the trailing five years.

As of Oct. 31, the DB portfolio was valued at $37.2 billion, and its DB real assets portfolio consists of 6.6 percent real estate.