Louisiana Firefighters' Retirement System, Baton Rouge, returned a net 3.9% in the fiscal year ended June 30, an investment report for the $1.7 billion pension fund shows.
The return falls short of the policy benchmark return of 6.1% for the year, according to the report.
For the three, five and 10 years ended June 30, the pension fund returned an annualized net 8.1%, 4.2% and 6.7%, respectively. The three- and five-year annualized net returns fell short of their respective policy benchmark returns of 9.2% and 5.9%. The 10-year policy benchmark return was not provided.
The pension fund returned a net 6.8% for the fiscal year ended June 30, 2018. By asset class, fixed income had the highest return, at a net 7.4% for the fiscal year ended June 30 (below its benchmark return of 8.3%).