SAN DIEGO — The San Diego County Employees Retirement Association (SDCERA) reported reduced investment expenses during Fiscal Year 2016 (FY 2016) as a result of Board-approved changes that implemented a simplified Trust Fund investment structure, including an in-house CIO investment model, a new Investment Policy Statement and asset allocation.
SDCERA eliminated more than $20 million in investment management expenses in FY 2016, cost reductions that are the result of negotiated reductions to investment manager and consulting expenses and the elimination of external CIO and hedge fund investment expenses. The savings realized with the implementation of structural reforms to SDCERA’s investment program will continue to apply to the organization’s investment program going forward.
“Every dollar saved is a dollar that we can invest for our beneficiaries,” said Steve Sexauer, SDCERA Chief Investment Officer. “This reduction in investment expenses reflects SDCERA’s priority of spending Trust Fund assets prudently,” he added.
SDCERA Board Chair Dianne Jacob Honored as a “Woman Who Means Business”
SAN DIEGO — The San Diego County Employees Retirement Association (SDCERA) proudly congratulates Board of Retirement Chair Dianne Jacob for being awarded the 2016 Women Who Mean Business award, sponsored by The San Diego Business Journal. Jacob was nominated for her service to the County of San Diego, most notably, to the County’s 41,000 active and retired employees in her role on the SDCERA Board.
“Dianne Jacob embodies the mission of our organization,” said David Wescoe, SDCERA Chief Executive Officer. “Her commitment to community and dedication to improving the lives of its citizens exemplify a proven legacy of leadership. We are delighted by the recognition of this exceptional leader.”
SDCERA has undergone significant change in the past year, including the hiring of a new executive management team and adoption of a new asset allocation and Investment Policy Statement for the multibillion dollar Trust Fund. Jacob’s leadership, knowledge and experience were instrumental ensuring a seamless and successful transition to a new management team and operational philosophy.
Jacob is the first female to serve as Chair of the SDCERA Board of Retirement since its inception in 1939. She was appointed to her role on the SDCERA Board of Retirement by the San Diego County Board of Supervisors and began serving in May 2004. She was reappointed to the Retirement Board for a fourth term in December 2013 and is currently in her twelfth year of representing SDCERA’s 41,000 members.
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.