TCRS posts 6.66 percent net return for fiscal year
The $65.2 billion Tennessee Consolidated Retirement System (TCRS) posted a net return of 6.66 percent for the fiscal year that ended on June 30, below its benchmark of 8.57 percent.
During the past three, five and 10 years, the fund has returned annualized yields of 8.89 percent, 7.82 percent and 8.08 percent, respectively, each above the respective benchmarks of 8.21 percent, 7.53 percent and 7.95 percent.
TCRS has 11.7 percent ($7.65 billion) of its portfolio invested toward real estate, slightly above its 10 percent target for the asset class. Those investments returned a loss of 4.07 percent for the year, below its benchmark of -3.09 percent.
During the past three, five and 10 years, TCRS’s real estate investments have generated annualized returns of 12.56, 9.72 percent and 10.40 percent, respectively, each above the respective benchmarks of 8.40 percent, 7.45 percent and 8.72 percent.