September 23, 2019 – The Missouri Local Government Employees Retirement System (LAGERS), the pension fund that covers over 60,000 Missouri local government employees and retirees, had a 7.1% total return (net of fees) for the fiscal year ending June 30, 2019.
“For the year LAGERS’ portfolio performed well and within expectations. The Alpha and Equity allocations were hurt by the narrow breadth of outperformance in the equity market, specifically in US/Large Cap/Growth markets; while the Fixed Income and Real Assets allocations were helped by the shift down in interest rates and a renewed focus on cash-flowing asset based investments,” said Brian Collett, the Chief Investment Officer of the $8.1 billion LAGERS fund.
Additionally, as of June 30, LAGERS’ three, ten, and twenty year returns were 10.9%, 10.8% and 7.1%, respectively.
LAGERS’ is 94.9% funded on an actuarial value of assets and 95.5% funded using a market value of assets.