The Municipal Fire and Police Retirement System of Iowa (MFPRSI), with $3.2 billion of assets under management, generated a 6 percent net return for the fiscal year that ended on June 30, performing below its benchmark of 10.6 percent.
Over the past three-, five- and 10-year periods, MFPRSI has yielded annualized net returns of 10.2 percent, 7.6 percent and 7.8 percent, respectively, compared with those periods’ relative benchmarks of 10.6 percent, 5.7 percent and 6.5 percent.
Some 3.6 percent of the fund’s portfolio ($115.1 million) is invested in core infrastructure, slightly above MFPRSI’s policy target of 3 percent. Those investments yielded a net return of 9.6 percent for the fiscal year, outperforming its benchmark of 7.1 percent (CPI plus 4 percent).
Private real assets for the fund make up 3.6 percent ($116.4 million) of its portfolio and generated returns of 1.3 percent for the past fiscal year. For the past three-, five- and 10-year periods those