Long-term Real Return

INVESTMENTS AT A GLANCE

Long-term Real Return

(As of 31 December 2021)

*As described in paragraph 5 of the Investment Policy Statement (IPS): “The Fund’s current ‘Long-Term Investment Objective’ is to meet or exceed a 3.5% real rate of return (net of inflation, as measured by the US Consumer Price Index) in USD dollar terms annualized over the long term (15 years and longer)”.

1 Year 2 Years 3 Years 5 Years 10 Years 15 Years 20 Years 25 Years 50 Years
UN Nominal Return (%) 12.3 12.9 14.8 11.3 9.1 6.6 7.8 7.4 8.6
US CPI (%) 7.0 4.2 3.5 2.9 2.1 2.2 2.3 2.3 3.9
Real Return (Inf. Adj.) (%) 4.9 8.3 10.8 8.1 6.8 4.3 5.3 5.0 4.5
Excess Return vs. 3.5% 1.4 4.7 7.1 4.5 3.2 0.8 1.8 1.5 1.0

Note:
Nominal returns are annualized.
Nominal returns and the US-CPI are rounded off to the single decimal point.
Real returns are calculated using a geometric difference.
Excess of 3.5% is calculated using a geometric difference.
Quarterly numbers are provided with one quarter lag due to delays in obtaining valuations for Alternative Investments, Real Estate, and other Private Markets Investments.
Year-end numbers are up-to-date and usually available by end of April the following year.
(Data from independent Master Record Keeper)