SDCERA Reports Final Investment Returns and AUM for Fiscal Year 2016
SAN DIEGO — The San Diego County Employees Retirement Association (SDCERA) reported that final net investment returns were 0.45 percent for the fiscal year ended June 30, 2016. For the same period, SDCERA’s three-year net investment return was 5.38 percent, the five-year return was 5.94 percent, and the 10-year return was 4.68 percent. As of June 30, 2016, the fund has generated a 25-year return of 8.20 percent.
SAN DIEGO — The Board of Retirement of the San Diego County Employees Retirement Association (SDCERA) today voted unanimously to elect Trustee Dianne Jacob as Board Chair. SDCERA Trustees Mark Oemcke and Samantha Begovich were elected Vice Chair and Secretary, respectively.
"I am honored by the confidence my colleagues’ have in me and look forward to serving the Board and SDCERA Members in this role," Jacob said.
Jacob was first appointed as an SDCERA Trustee by the San Diego County Board of Supervisors in May 2004. She was reappointed to the Board of Retirement for a fourth term in December 2013. Jacob replaces outgoing Board Chair E.F. “Skip” Murphy.
SDCERA Reports Preliminary Investment Returns for Fiscal Year 2016
SAN DIEGO — The San Diego County Employees Retirement Association (SDCERA) reported a preliminary 0.45 percent investment return for the fiscal year ending June 30, 2016. SDCERA’s estimated three-year investment return was 5.38 percent, the five-year return was 5.94 percent, and the 10-year return was 4.68 percent, all as of June 30. These investment returns are preliminary, annualized and net of fees. The fund has generated a 25-year return of 8.20 percent. SDCERA’s assets under management are $10.2 billion as of June 30, 2016.
SDCERA’s final investment return data is expected to be reported at the October 20, 2016 Board of Retirement meeting.
Mark E. Oemcke Appointed to Second Term on SDCERA Board of Retirement
SAN DIEGO — The San Diego County Board of Supervisors has voted unanimously to reappoint Mark E. Oemcke to the SDCERA Board of Retirement for a second four-year term, beginning July 1, 2016.
First appointed to the SDCERA Board in July 2013, Oemcke, a CPA, has more than 30 years of experience in financial services and banking, investment management across all asset classes, and financial reporting. Oemcke is Chief Financial Officer of CICA, Inc., a single family office, and serves as Chair of the SDCERA Audit, Finance and Budget Committee.
SDCERA Selects Aon Hewitt Investment Consulting as Investment General Consultant
SAN DIEGO — The San Diego County Employees Retirement Association Board of Retirement (Board) has selected Aon Hewitt Investment Consulting as its Investment General Consultant, subject to final contract negotiation.
“After comprehensive due diligence activities, SDCERA is pleased to have found a well-qualified Investment General Consultant out of three great finalists,” said Steve Sexauer, SDCERA’s Chief Investment Officer. “The depth of Aon’s global resources and proven track record of topical research related to SDCERA's asset classes, asset allocation, and portfolio risk modeling will augment our efforts to grow Trust Fund assets for the benefit of SDCERA members.”
SAN DIEGO — Based upon the recommendation of its actuary, Segal Consulting, the San Diego County Employees Retirement Association (SDCERA) Board of Retirement voted today to reduce the Trust Fund’s net investment return assumption from 7.50% to 7.25%. The Board of Retirement lowered the net investment return assumption from 7.75% to 7.50% in September 2015.
Segal’s recommendation was part of a regular three-year review of economic and demographic assumptions affecting the SDCERA Trust Fund. The review utilizes the census data for the period July 1, 2012 to June 30, 2015 and provides proposed actuarial assumptions to be used effective with the June 30, 2016 valuation.