VRS ends fiscal year at a record $101.8b

The Virginia Retirement System (VRS) has reported a 27.5 percent return on its investment portfolio for fiscal year 2021, finishing the year with $101.8 billion and exceeding the $100 billion mark for the first time ever.

“We have registered one of the strongest return years in recent memory, far surpassing the 6.75 percent annual assumed rate of return for the fund, but more importantly, exceeding the assumed rate of return for the three- five- and 10-year periods,” said Ronald Schmitz, CIO of VRS. “We were in position to take advantage of conditions in the public equity, private equity and private credit arenas, as well as our other asset classes. We also kept focus on our long-term investment strategy, pursuing broad opportunities and optimal returns while balancing risk to deliver high value to the fund.”

During fiscal year 2021, the real assets program returned 11.3 percent. The portfolio included $12.1 billion in real assets.