As part of the Annual Comprehensive Financial Report, MOSERS reports fiscal year-end investment performance.

For fiscal year 2024, every asset class outperformed its individual benchmark, and the total portfolio generated a time-weighted rate of return of 6.6%, net of all fees and expenses. This result exceeded the policy benchmark of 5.8% by 0.8%. Due to this outperformance, approximately $74 million in value was added to the MOSERS portfolio above our policy benchmark. Total trust fund assets as of June 30, 2024, were nearly $9.0 billion.

As long-term investors, MOSERS recognizes the importance of portfolio diversification and investment discipline during times of uncertainty and over the long term. The total fund 1-, 3-, 5-, 10-, 15-, and 20-year actual performance outperformed the policy benchmark over all periods, adding approximately $2.1 billion to the trust fund over the 20-year period.

While the MOSERS portfolio is built to withstand all kinds of market uncertainties over time, the Board also undertakes a detailed portfolio review at least every five years for potential improvements.

Over the next two fiscal years, MOSERS staff will implement changes to the portfolio approved by the Board, which are designed to improve the portfolio for the foreseeable future. These changes will be made in a targeted manner to ensure the long-term health and resilience of the MOSERS portfolio.