RD77 - VRS Oversight Report No. 39 - VRS (Virginia Retirement System) Biennial Status and Semi-Annual Investment Report - December 2012


Executive Summary:
As of September 30, 2012, the VRS trust fund held $55 billion in assets. The fund earned 14.3 percent over the one-year period ending September 30. The fund’s performance fell short of its long-term benchmark in all but the ten-year period ending September 30, 2012. The fund exceeded its intermediate term benchmark – which is more reflective of the types of investments held by VRS – in the three- and ten-year periods. The fixed income, real assets, and private equity programs exhibited the highest level of investment performance relative to their benchmarks for the period ending September 30, 2012.