003 · Benchmarks
Chicago Fire.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Broad US Equity | Public Equity | 33% | 29–37% | Russell 3000Russell 3000 Index |
| Large Cap US Equity | Public Equity | 23% | 19–27% | Russell 1000Russell 1000 Index |
| Small/Mid Cap US Equity | Public Equity | 10% | 6–14% | Russell 2500Russell 2500 Index |
| Global Ex-US Equity | Public Equity | 24% | 20–28% | MSCI ACWI ex-US IMIMSCI All Country World Ex-US Index IMI (net) |
| Private Equity | Private Equity | 4% | 0–8% | Cambridge US Private Equity (legacy)Cambridge US Private Equity Index (legacy) |
| Total Equities | Public Equity | 61% | 57–65% | — |
| Core Real Estate | Real Estate | 3% | 0–6% | NCREIF ODCENCREIF ODCE Index (Gross) |
| Non-Core Real Estate | Real Estate | 2.5% | 0–6% | — |
| Global REITs | Real Estate | 2.5% | 0–6% | FTSE EPRA NAREIT Developed Real Estate (Net Div)FTSE EPRA NAREIT Developed Real Estate Index (Net Div) |
| Infrastructure | Real Assets / Infrastructure | 3% | 0–6% | FTSE Developed Core Infrastructure 50/50FTSE Developed Core Infrastructure 50/50 Index (Net) |
| Total Real Assets | Real Assets / Infrastructure | 11% | 7–15% | — |
| Core Fixed Income | Fixed Income | 22% | 18–26% | Bloomberg US Aggregate BondBloomberg US Aggregate Bond Index |
| Private Credit | Private Credit / Debt | 3% | 0–6% | [50% Morningstar LSTA 100/50% Bloomberg High Yield] +1% |
| Total Fixed Income | Fixed Income | 25% | 21–29% | — |
| Liquid Diversifying Assets | Hedge Funds / Absolute Return | 3% | 0–6% | 90-Day T-Bill + 4%90 Day T-Bills + 4% |
| Cash | Cash | 0% | 0–5% | 90-Day T-Bill90 Day T-Bills |
| International Equity | Public Equity | — | — | MSCI EAFEMSCI EAFE Index (net) |
| Emerging Markets Equity | Public Equity | — | — | MSCI Emerging MarketsMSCI Emerging Markets Index (net) |