The State Board of Administration's (SBA) allocation of Florida Retirement System assets was within ranges established in its long-term investment plan.
The SBA's overall return on investing Florida Retirement System assets exceeded its investment objective of 8%.
Investment returns for most asset classes were close to their performance objectives over periods of three and five years. However, the domestic equity asset class under-performed its objectives in 1994-95. If the return rate on domestic equities in 1994-95 was as high as relevant market indexes, the SBA would have earned additional returns ranging from $356 million to $566 million.
Performance data in the SBA's 1994-95 Investment Report is reasonably accurate.
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