Iowa Public Employees’ Retirement System earns 9% in fiscal year 2024

During a meeting of its investment board, the Iowa Public Employees’ Retirement System (IPERS) announced that its investment program earned a 9.07 percent return in fiscal year 2024 (FY2024), exceeding its policy benchmark of 8.8 percent.

IPERS’ long-term investment assumption is 7 percent. At the conclusion of fiscal year 2024, the value of the IPERS Trust Fund equaled $43.61 billion, a $2.48 billion increase from the same time in 2023.

“IPERS’ portfolio performed well in FY2024,” said Greg Samorajski, IPERS CEO, who on the public-markets side credited gains in stocks, specifically, spurred by growth in emerging markets, especially in Asia. In private markets, private equity and private credit saw positive returns.

“In the fiscal year’s final quarter, strong job creation and steady inflation boosted the market and helped IPERS close the year with its highest returns since FY2021,” Samorajski added.

A summary of IPERS’ fiscal year-end an