Iowa Public Employees logs record return, plans private real asset investments

The Iowa Public Employees’ Retirement System (IPERS) has announced a near-record 29.6 percent investment return in fiscal year 2021, which generated more than $9 billion for the IPERS Trust Fund.

As of June 30, 2021, the market value of the IPERS Trust Fund was a record $42.85 billion.

“The unprecedented investment earnings were central to increasing the funded ratio and lowering the unfunded liability,” said Greg Samorajski, CEO of IPERS. “IPERS is on track to eliminate the unfunded liability, and today’s report shows that IPERS made great progress toward that goal in FY2021.”

IPERS is planning to commit up to $3.125 billion to private market investments in 2022. The pension fund will specifically look to put $800 million in private real asset investments.

IPERS said large commitments to private market investments are needed to achieve new allocation targets the investment board set in September 2020, as well as to maintain targets.

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