STRS Ohio Fund Returns 17.5% for Fiscal Year 2003–2004

Preliminary results for the State Teachers Retirement System of Ohio’s (STRS Ohio) investments for the fiscal year ended June 30, 2004, show the total fund returned 17.5%. The preliminary figures calculate STRS Ohio’s investment assets at $54.2 billion, an increase of $7 billion in the last 12 months. The fiscal year covered the July 1, 2003, through June 30, 2004, period.

The year’s strong performance — which exceeded even the fund’s excellent returns during the mid-1990s bull market — was driven largely by the domestic and international equity markets, which posted exceptional gains for the year. Steve Mitchell, deputy executive director — Investments, said STRS Ohio’s board-approved asset mix “positioned the system to fully benefit from the economic strength of the past 12 months.”

The total fund performance beat its passive fund benchmark by a full percent, meaning the system’s active management of the funds — rather than relying on index funds — added approximately $500 million in value during the fiscal year.

Return to the list of STRS Ohio news e-mails sent in 2004.