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Investments

At the core of SDCERA’s operations is its acclaimed investment program. SDCERA is entrusted to prudently manage the multi-billion dollar pension fund that provides retirement benefits to members. An accomplished team of investment professionals and money managers, in conjunction with the Board of Retirement, prudently manages the investment of the pension fund.

SDCERA’s investment program has earned industry accolades and awards as one of the top performing retirement funds in the country. The program’s success is largely due to a well-diversified portfolio and progressive investment strategies that put it in the same league as some of the country’s most sophisticated investors. SDCERA is a long-term investor with a gross 10-year annualized investment return of 7.74% and a gross 25-year annualized investment return of 9.20% as of September 30, 2014.

Quarterly Report 

Returns for quarter ended September 30, 2014 (gross of fees)
SDCERA Returns Quarter 1-Year 3-Year 5-Year
Total Equity1 -1.47% 12.55% 15.26% 11.51%
Total Equity benchmark -0.67% 16.05% 19.71% 13.60%
Total Credit2 -1.22% 8.31% 12.21% 11.01%
Total Credit benchmark 0.56% 9.95% 11.88% 10.77%
Total Diversifying Assets3 1.79% 5.08% 3.48% 5.80%
Total Diversifying Assets benchmark -0.11% 2.30% 1.70% 3.99%
Total Real Assets3 2.86% 13.84% 10.27% 10.01%
Total Real Assets benchmark 1.02% 10.37% 9.46% 9.27%
Total Risk Parity3 -3.75% --- --- ---
Total Risk Parity benchmark -2.36% --- --- ---
Total fund 0.05% 10.32% 11.34% 10.20%
Total fund benchmark -0.43% 9.46% 10.30% 9.15%
Total assets under management: $10,471,667,491.

1 Public and Private Equity
2 High Yield and Private Credit
3 U.S. Treasury Bonds, Emerging Market Debt (Local), Managed Futures, Tactical Trading and Relative Value Strategies
4 Real Estate, Private and Public Real Assets