003 · Benchmarks
Houston Firefighters.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Cash & Short Term | Cash | 2% | 0.5–8% | BofAML 9-12 Mo. US TreasuryBofAML 9-12 Mo. US Treasury Index |
| Public Equity - Domestic | Public Equity | 12% | 5–17% | Russell 3000Russell 3000 Index |
| Public Equity - International | Public Equity | 12% | 5–17% | ACWI ex USMSCI All Country World Ex-US Index |
| High Yield Bonds | Fixed Income | 15% | 10–20% | S&P LLI 50%/ICE BofA High Yield 50% |
| M2 Hedge | Multi-Asset / Other | 2% | 0–12% | — |
| Private Equity | Private Equity | 33% | 25–45% | MSCI Global Private Capital Closed End Fund FrozenMSCI Global Private Capital Closed End Fund Frozen Index |
| Private Debt | Private Credit / Debt | 15% | 10–20% | MSCI Global Private Credit Closed End Fund FrozenMSCI Global Private Credit Closed End Fund Frozen Index |
| Real Estate | Real Estate | 9% | 5–15% | MSCI Global Private Real Estate Closed End Fund FrozenMSCI Global Private Real Estate Closed End Fund Frozen Index |
| Total Public Markets | Multi-Asset / Other | 43% | — | — |
| Total Private Markets | Multi-Asset / Other | 57% | — | — |
| M2 Hedge (Funds, Gold, Digital Assets) | Multi-Asset / Other | — | — | Cash + CPI + 1%Cash + CPI +100 bps |