NCIA Accountability Metrics

Assumed Actuarial Returns

NCRS vs Assumed Actuarial Return - Rolling 3 Year (Net of Fees)

NCRS vs Assumed Actuarial Return - Rolling 5 Year (Net of Fees)

Peer Comparison

NCRS vs Peers - Rolling 3 Year Return (Gross of Fees)

NCRS vs Peers - Rolling 5 Year Return (Gross of Fees) Chart

Implementation Benchmarks

NCRS vs Implementation Benchmark- Rolling 3 Year Return (Net of Fees) Chart

NCRS vs Implementation Benchmark- Rolling 5 Year Return (Net of Fees) Chart

Note 1: Peer Group Universe is the BNY Universe of US Public Funds > $20B

Note 2: The Implementation Benchmark is a blend of the Asset Class Benchmarks at policy weights. As of June 2025, the following weights are used: 58% Growth Benchmark, 29% Rates and Liquidity Benchmark, 11% Inflation Sensitive & Diversifiers Benchmark, and 2% Multi-Strategy Benchmark

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For more detailed accountability and other information, visit the North Carolina Investment Authority.