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Press Release: Maryland State Retirement Agency Earns 14.05% on Investments in FY 2010

Exceeds 7.75% assumed return.

For Immediate Release
Baltimore, MD July 20, 2010

The Board of Trustees of the Maryland State Retirement and Pension System has been informed that its portfolio returned 14.05 percent on investments for the fiscal year that just ended June 30, 2010—exceeding the 7.75 percent assumed actuarial return rate. The performance raised the assets of the system to $31.848 billion.

In making the announcement today, Mansco Perry, Chief Investment Officer said, “My staff has worked tirelessly to realize this kind of a return during these challenging economic times. I believe these results demonstrate we have a portfolio headed in the right direction. Though the final numbers aren’t in, I expect that we will have exceeded our policy benchmark by nearly 250 basis points (2.5%).”

Returns by strategy and asset allocation
Asset Allocation (%)Return (%)
Total (%)14.05
Public Equity51.215.63
Private Equity3.214.16
Fixed Income19.014.31
Credit3.419.23
Real Return10.512.10
Real Estate6.33.55
Absolute Return4.47.47
Cash2.02.48

“The board is very pleased with the fund’s performance, due in no small part to the excellent team headed by Mr. Perry and to the system’s prudently diversified asset allocation that they manage,” said State Treasurer Nancy K. Kopp, Chair of the Maryland State Retirement and Pension System Board of Trustees. “This offers further proof to our more than 367,000 members that they can rely on the professional staff of the State Retirement Agency to look after their interests. We should all be pleased with today’s announcement.”

Contact: Michael D. Golden
410-625-5603
443-540-6499 (mobile)
mgolden@sra.state.md.us

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The Maryland State Retirement and Pension System is charged with the fiduciary responsibility for properly administering the retirement and pension allowances of 116,000 retirees and beneficiaries as well as the future benefits for over 251,500 active participating members. These groups include state government employees, teachers, law enforcement personnel, legislators, judges and local government employees and fire fighters whose employers have elected to participate in the system.