A new study from researchers at Cliffwater LLC analyzing
10-year returns lists the Louisiana State Employees’ Retirement System (LASERS)
as one of the top 10 state pension plans in the United States. LASERS
experienced a 6.7 percent annualized return for the 10-year period ended June
30, 2011.
Data for the study, “Trends in State Pension Asset
Allocation and Performance,” was taken from the 2011 comprehensive annual
financial reports of 96 state pension plans. Cliffwater research revealed that
pension plans with “higher allocations to alternative investments generally
experienced better 10-year returns than those with less exposure.” In addition,
researchers “found that those decade-long returns owed more to manager and fund
selection than to the size of the alternatives allocation.”
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