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Maryland State Retirement and Pension System beats policy benchmark for the fiscal year
Investors - AUGUST 17, 2022

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Maryland State Retirement and Pension System beats policy benchmark for the fiscal year

by Kali Persall

The Maryland State Retirement and Pension System (MSRPS) has generated a modestly negative return of -2.97 percent, net of fees, for the fiscal year ending June 30, beating its policy benchmark of -3.48 percent.

The system’s diversified and risk-balanced asset allocation, which is designed to weather extremes in market volatility, saved more than $5 billion on its investments for the fiscal year.

The fiscal year 2022 returns reflect the impact of the ongoing volatility of global financial markets affected by inflation, rising interest rates, the COVID-19 pandemic and the war in Ukraine.

“It was a difficult fiscal year for public markets with both bond and stock prices falling,” said Andrew Palmer, CIO of MSRPS. “The board’s diversified asset allocation policy anticipates unusual markets such as these and includes stabilizing assets classes to protect value.

“For fiscal year 2022, alternative assets were able to produce positive returns and hel

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