Fiscal Year-End 2022 Performance Update:

In fiscal year end 2021, LASERS assets increased by $3 billion. In 2022, LASERS experienced a 7.2% market loss on assets in the fiscal year ending June 30, 2022. This is compared to a -10.6% return on the S&P 500 Index and a -10.3% return on the Barclay Capital U.S. Aggregate Bond Index. Equity and bond markets posted negative returns in both the U.S. and international markets.

However, long-term annualized rates of return for LASERS remain strong. LASERS returned a positive 6.7% for the 5-year period and 7.8% for the 10-year period ending June 30, 2022.

As always, LASERS maintains its commitment to a broadly diversified portfolio focused on long term returns.