003 · Benchmarks
University of California.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Public Equity | Public Equity | 57% | 40–70% | MSCI ACWI IMI Tobacco and Fossil Fuel FreeMSCI All Country World Index (ACWI) Investable Market Index (IMI) Tobacco and Fossil Fuel Free - Net Dividends |
| Core Fixed Income | Fixed Income | 14% | 8–20% | Bloomberg 1-5 Year US Government/CreditBloomberg 1-5 Year US Government/Credit Index |
| High Yield Fixed Income | Fixed Income | 3% | 0–10% | ICE BofA High Yield Cash Pay Fossil FreeICE BofA High Yield Cash Pay Index Fossil Free |
| Private Equity | Private Equity | 12% | 5–20% | Russell 3000 + 3% |
| Real Estate | Real Estate | 7% | 2–20% | NCREIF ODCE non-laggedNCREIF Fund Index – Open End Diversified Core Equity (ODCE) non-lagged |
| Real Assets | Real Assets / Infrastructure | 3% | 0–10% | Actual Real Assets Portfolio Return |
| Private Credit | Private Credit / Debt | 3% | 0–10% | 75% S&P UBS Leveraged Loan + 25% ICE BofA BB-B US High Yield Constrained Fossil Free + 1.5%75% S&P UBS Leveraged Loan Index + 25% ICE BofA BB-B US High Yield Constrained Fossil Free Index +1.5% |
| Cash | Cash | 1% | 0–5% | ICE BofA 3 Mo US T-BillICE BofA 3-Month US Treasury Bill Index |