MoDOT & Patrol Employees’ Retirement System

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Total Fund Performance

The Board has established a long-term objective to achieve a total investment return of at least 6.5%. The total fund return is compared to the policy benchmark, which represents the returns that would have been achieved by a portfolio passively invested in the broad market, with percentage weights allocated to each asset class in MPERS’ total fund policy allocation.

Total Fund Performance as of September 30, 2026
(net of fees and expenses)

Investments

Period MPERS Return Benchmark Return Excess Return
1 Year 10.00% 10.16% -0.16%
5 Year 10.16% 7.62% 2.54%
10 Year 10.60% 9.04% 1.56%
20 Year 8.18% 7.38% 0.80%

Key Highlights

  • MPERS’ investment portfolio declined 0.9% in the third quarter, in line with public fund peers but behind the 1.7% gain in the policy benchmark. The shortfall reflects the portfolio’s overweight to traditional fixed income as interest rates rose — a position that also offers an opportunity to de-risk the fund at attractive yields going forward.
  • This is especially timely given the strength of MPERS’ long-term results: the fund’s 5-, 10-, and 20-year returns each rank in the top 3% of the peer universe, making this a strong position from which to reduce risk.
  • Current portfolio positioning is detailed on the Asset Allocation page.
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