At the end of each fiscal year – June 30 – the ASRS calculates a rate of return on its investment portfolio. The assumed rate of return is 7.0 percent.
The ASRS total fund returns - net of fees - for the fiscal year ending June 30, 2025 are as follows:
1 Year | 3 Years | 5 Years | 10 Years | 20 Years | Inception (7/1/1975) | |
|---|---|---|---|---|---|---|
| ASRS Return | 9.9% | 9.02% | 10.39% | 8.23% | 7.57% | 9.54% |
| Interim Strategic Asset Allocation Benchmark * | 10.19% | 9.3% | 10.19% | 7.3% | 6.94% | 9.14% |
| Peer Ranking ** | 58th percentile | 54th percentile | 12th percentile | Top 7th percentile | Top 4th percentile | N/A |
* The ASRS interim Strategic Asset Allocation (SAA) percent is what the ASRS would have earned with no active staff management of investments. If the ASRS Return is greater than the ASRS SAA percent, the difference is the fund growth directly attributable to decisions and actions of the ASRS staff.
** The Peer Ranking is based on a cohort of public pension plans that manage more than $1 billion. For example, under the 20-Year Return, the ASRS ranks in the top 4 percent of peers.
Investment Returns by Asset Class
| Asset Class | 1-Year Return | 3-Year Return |
|---|---|---|
Public Equity ASRS Custom Public Equity Benchmark (TWR) Excess Return | 15.94% 15.67% 0.27% | 17.52% 17.31% 0.21% |
Private Equity ASRS Custom Private Equity Benchmark (TWR) Excess Return | 5.9% 6.57% -0.67% | 5.52% 6.61% -1.09% |
Interest Rate Sensitive ASRS Custom IRS Benchmark (TWR) Excess Return | 5.36% 5.3% 0.06% | 1.86% 1.62% 0.24% |
Credit ASRS Custom Credit Benchmark (TWR) Excess Return | 7.25% 9.51% -2.26% | 7.97% 9.88% -1.91% |
Real Estate NCREIF ODCE Net 1 QTR lag (TWR) Excess Return | 2.84% 1.17% 1.67% | -2.00% -5.07% 3.07% |
Annual Net Total Fund Returns - 10-Year History
| Fiscal Year | Return |
|---|---|
| 2024-25 | 9.89% |
| 2023-24 | 9.00% |
| 2022-23 | 8.18% |
| 2021-22 | 1.15% |
| 2020-21 | 25.08% |
| 2019-20 | 0.76% |
| 2018-19 | 6.56% |
| 2017-18 | 9.44% |
| 2016-17 | 13.88% |
| 2015-16 | 0.55% |
