• 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.

Copies of this report in print or alternate accessible format may be obtained by telephone (850/488-0021), by FAX (850/487-9213), in person, or by mail (OPPAGA Report Production, Claude Pepper Building, Room 312, 111 W. Madison St., Tallahassee, FL 32399-1475).
e-mail address: oppaga@oppaga.fl.gov