Global Equity Performance: Positive nominal returns of 16.5% for the trailing 1-year period, driven by global equity assets. US equities saw the largest growth at 29%.

Diversification and Asset Allocation: Diversification plan showed varying performances across asset classes, with significant growth from US equities and some pressure on real estate assets.

Investment Earnings: Over the past 5 years, $67 billion in investment earnings contributed to a 40% increase in asset value despite $20 billion in net outflows for benefit payments.

Performance Attribution: The Trust's 1-year return of 9.44% outperformed the benchmark by 298 basis points, mainly due to security selection across asset classes.

Risk-Adjusted Returns: The Trust demonstrated lower volatility for a similar return compared to peers, partly due to its alternative assets exposure.

Private Assets Valuation: Discussion on the challenges of using private asset valuations for risk measurement due to their less frequent revaluation and the impact on volatility.

Peer Group Comparison: The peer group was adjusted to include public pension funds with assets over $1 billion, providing a larger sample size for comparisons.

Success Indicators: Success is measured against the total fund benchmark, assumed rate of return, and CPI plus 5%. TRS has generally met these benchmarks over long periods.