003 · Benchmarks
Chicago Police.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Large Cap | Public Equity | 15% | 13–20% | Russell 1000 |
| SMID Cap | Public Equity | 6% | 4–11% | Russell 2500 |
| Developed Int'l Equity | Public Equity | 15% | 13–20% | ACWI ex USMSCI ACWI ex US |
| Emerging Markets Equity | Public Equity | 6% | 4–11% | MSCI Emerging MarketsMSCI Emerging Market Equity |
| Long/Short Equities | Hedge Funds / Absolute Return | 3% | 1–8% | HFRX Equity |
| Private Equity | Private Equity | 5% | 3–9% | Cambridge Private Equity |
| Core Fixed Income | Fixed Income | 13% | 11–18% | Bloomberg US AggregateUS Aggregate |
| Diversified Fixed Income | Fixed Income | 2% | 0–7% | 3-Month LIBOR + 3%3 Month LIBOR +3% |
| Global Multi Sector Fixed Income | Fixed Income | 4% | 2–9% | Global AggregateGlobal Aggregate Total Return |
| Absolute Return Fixed Income | Fixed Income | 3% | 1–8% | 3-Month LIBOR + 3%3 Month LIBOR +3% |
| Opportunistic Credit | Private Credit / Debt | 4% | 2–9% | 50% CS Leveraged Loan / 50%ICE BofA ML US HY BB-B Rated Constrained |
| Private Debt | Private Credit / Debt | 4% | 2–9% | CS Leveraged Loan |
| Real Estate | Real Estate | 7% | 5–12% | NCREIF NPI – Private Real Estate / NAREIT Equity – Public Real EstateNCREIF Property Index – Private Real Estate / NAREIT Equity Index – Public Real Estate |
| Infrastructure | Real Assets / Infrastructure | 4% | 2–9% | NCREIF NPINCREIF Property Index |
| Global Asset Allocation | Multi-Asset / Other | 5% | 2–9% | 60% MSCI ACWI / 40% FTSE WGBI |
| Hedge Funds | Hedge Funds / Absolute Return | 4% | 7–14% | HFRI Fund of FundsHRFI Fund of Funds |
| Cash / Short Duration | Cash | 0% | 0–15% | BBgBarc US Government/Credit 1-3 Yrs (short duration) / 91 Day T-Bill (cash)BBgBarc US Government/Credit 1-3 Yrs (short duration) / 91 Day T-Bills (cash) |