The $32 billion Mississippi Public Employees’ Retirement System recently reported a gross return of 7.8 percent for the fiscal year that ended on June 30. That return comes in below the fund’s policy benchmark of 9.7 percent. However, Mississippi Public Employees beat its benchmarks for annualized returns on a three-, five- and ten-year basis; those returns were 9.4 percent (7.8 percent benchmark), 7.6 percent (6.9 percent benchmark) and 8.5 percent (8.0 percent benchmark), respectively.
The 7.8 percent gross return is up from the pension fund’s –8.5 percent gross return for the fiscal year that ended June 30, 2022.
The retirement system has 9.9 percent of its holdings in real estate, 26.1 percent in domestic equity, 20.5 percent in international equity, 18.5 percent in total fixed income, 12 percent in private equity, 11.8 percent in global equity, and 1.1 percent in cash holdings. These can be compared with the fund’s target allocations, which are 10 percen
