003 · Benchmarks
Sacramento County ERS.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Growth | Multi-Asset / Other | 58% | — | — |
| Global Equity | Public Equity | 40% | 36–44% | MSCI ACWI IMI |
| Private Equity | Private Equity | 11% | 8–14% | Cambridge PE/VCCambridge Associates PE/VC Index |
| Public Credit | Fixed Income | 2% | 1–3% | 50% BofA High Yield + 50% CS Leveraged Loan50% BofA High Yield/50% CS Leveraged Loan |
| Private Credit | Private Credit / Debt | 5% | 3–7% | CS Leveraged Loan + 2%CS Leveraged Loan Index + 2% |
| Diversifying | Hedge Funds / Absolute Return | 24% | — | — |
| Fixed Income | Fixed Income | 16% | 12–20% | 75% Bloomberg Aggregate + 25% Bloomberg US Treasury75% Bloomberg Barclays Aggregate Index/25% Bloomberg US Treasury Index |
| Absolute Return | Hedge Funds / Absolute Return | 7% | 5–9% | HFRI FoF ConservativeHFRI FoF Conservative Index |
| Cash | Cash | 1% | 0–2% | Overnight LIBOR/SOFR |
| Real Return | Real Assets / Infrastructure | 18% | — | — |
| Real Estate | Real Estate | 9% | 7–11% | 60% NCREIF ODCE/40% NCREIF ODCE + 1%60% NFI-ODCE/40% NFI-ODCE + 1% |
| Real Assets | Real Assets / Infrastructure | 7% | 5–9% | 60% Cambridge Private Infrastructure , 30% Cambridge Private Energy , 10% NCREIF Farmland60% Cambridge Associates Private Infrastructure Index, 30% Cambridge Associates Private Energy Index, 10% NCREIF Farmland Index |
| Liquid Real Return | Real Assets / Infrastructure | 2% | 0–3% | 15% FTSE EPRA/NAREIT Developed Liquid , 25% S&P Global Infrastructure , 10% S&P Global Large Mid Cap Commodity and Resources , 10% Bloomberg Roll select Commodity , 30% Bloomberg 1-10 year US TIPS , 10% Bloomberg US Dollar Floating Rate <5 Year15% FTSE EPRA/NAREIT Developed Liquid Index, 25% S&P Global Infrastructure Index, 10% S&P Global Large Mid Cap Commodity and Resources Index, 10% Bloomberg Roll select Commodity Index, 30% Bloomberg Barclays 1-10 year US TIPS Index, 10% Bloomberg Barclays US Dollar Floating Rate <5 Year Index |