The California Public Employees’ Retirement System (CalPERS) reported a 16.2% return in 2013.
The results beat the benchmark by 1.4 percentage points and it was the strongest return in 11 years.
CalPERS says the returns were led by strong performance in its stock, private equity and real estate portfolios.
The pension fund earned 25.61% from its public equity portfolio, 19.09% from its private equity holdings, and 11.69% from its real estate investments. The private equity returns are over a one-year period ending Sept. 30, 2013.