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.
SDCERA hires Thomas Williams as Assistant Chief Investment Officer
SAN DIEGO —The San Diego County Employees Retirement Association (SDCERA) announced today the hiring of Thomas Williams as Assistant Chief Investment Officer (ACIO) of the $10.3 billion public pension fund.
“After a comprehensive, nationwide search, we are pleased to have Tom join SDCERA’s investment team in this important role,” said Stephen Sexauer, SDCERA Chief Investment Officer.
R.W. “Bob” Goodchild elected to SDCERA Board of Retirement
On May 6, the Registrar of Voters certified the SDCERA Board of Retirement election results in the General Member election for the third seat on the Board of Retirement. R.W. “Bob” Goodchild received the majority of votes among the five candidates. Goodchild will serve a three-year term beginning July 1, 2016.
The Board of Retirement is SDCERA’s governing body, responsible for the administration of benefits and investment of Trust Fund assets. Visit the Board of Retirement Responsibilities page to learn more about the Board’s role.
SDCERA Portfolio Transition
In 2015, the SDCERA Board voted to change from an outsourced portfolio strategist investment model to an in-house investment program led by Chief Investment Officer Steve Sexauer. Steve and his team moved the management of $5 billion of SDCERA assets from the outsourced portfolio strategist to other investment managers. This transition involved moves from 1,400 different market positions on 15 worldwide exchanges. Read the report from an independent consulting firm that provides additional detail on the transition.
SDCERA Announces Adoption of Investment Policy Statement and Asset Allocation
SAN DIEGO — The San Diego County Employees Retirement Association (SDCERA) today announced that the Board of Retirement has adopted a new Investment Policy Statement (IPS) that defines investment objectives and governance. The six-chapter IPS describes the investment philosophy and strategies that will guide SDCERA Trust Fund objectives and contains specific information on subjects such as risk tolerance and liquidity requirements.