Atlanta's three city pension plans racked up losses for the fiscal year ended June 30, generally matching their respective benchmarks.
The $1.6 billion Atlanta General Employees' Pension Fund returned a net -11.9% for the fiscal year ended June 30, slightly better than its benchmark, which returned -12.8%, according to an investment report posted on the city of Atlanta's website.
For the three, five, seven and 10 years ended June 30, the general employees plan returned an annualized net 6.3%, 6.9%, 7% and 8.9%, respectively, compared with their respective benchmarks of 5.6%, 6.5%, 6.9% and 8.4%.
The general employees plan had returned a net 31.1% for the fiscal year ended June 30, 2021.
For the most recent fiscal year, the employees plan's best-performing asset class was real estate with a net return of 27% for the year ended June 30, compared with a 28.4% return for its benchmark.
Among other asset classes, alternatives returned 4.4% for the fiscal year ended June 30, fixed income, -10.1% (benchmark, -10.3%); U.S. equity, -13.5% (-13.9%); and non-U.S. equity, -22.2% (-17.8%).
As of June 30, the employees plan's asset allocation was 34.5% U.S. equity, 27% non-U.S. equity, 22.5% fixed income, 10.8% other, 4.1% real assets and the rest in private equity.
Similarly, the $1.3 billion Atlanta Police Officers' Pension Fund returned a net -13.5% for the fiscal year ended June 30, very close to its benchmark return of -13.4%.
For the three, five, seven and 10 years ended June 30, the police officers plan returned an annualized net 5.8%, 6.5%, 6.4% and 8%, respectively, compared with their respective benchmarks of 5.5%, 6.5%, 6.7% and 8.4%.
The police pension plan had returned a net 33.1% for the fiscal year ended June 30, 2021.
For the most recent fiscal year, the police plan's best-performing asset class was alternatives, with a net return of 12% for the year ended June 30, compared with a 13.3% return for its benchmark.
Among other asset classes, fixed income returned -9.8% (benchmark, -9.2%); U.S. equity, -16.2% (-16.8%); and international equity, -18.5% (-18.6%).
As of June 30, the police plan had an asset allocation of 39.7% U.S. equities, 26.6% fixed income, 26.3% international equities, 4.7% cash and 2.7% alternatives.
Finally, the $768 million Atlanta Firefighters' Pension Fund returned a net -14.8% for the fiscal year ended June 30, while its benchmark returned -13.1%.
For the three, five, seven and 10 years ended June 30, the firefighters pension plan returned an annualized net 5.3%, 6.1%, 6% and 7.6%, respectively, compared with their respective benchmarks of 5.7%, 6.3%, 6.5% and 8.4%.
The firefighters plan had reported a net return of 32.9% for the fiscal year ended June 30, 2021.
For the most recent fiscal year, the firefighters plan's best-performing asset class was alternatives, with a net return of 12.9% for the year ended June 30, compared with a 28.4% return for its benchmark.
Among other asset classes, fixed income returned -10.1% (benchmark, -10.3%); U.S. equity, -17.9% (-13.9%); international equity, -20.9% (-16.8%).
As of June 30, the firefighters plan had an asset allocation of 39.8% U.S. equities, 26.4% fixed income, 23.6% international equities, 6.2% cash and 4% alternatives.
