003 · Benchmarks
Alabama ERS.
Targets, ranges and benchmarks as the document states them — the ERS portfolio, one of 2 in the document. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Domestic Equity | Public Equity | 45% | 30–60% | Custom Benchmark |
| International Equity | Public Equity | 15% | 10–25% | MSCI EAFE Net & Emerging Markets Net |
| Fixed Income | Fixed Income | 15% | 10–40% | — |
| Alternative Investments | Multi-Asset / Other | 10% | 0–15% | — |
| Real Estate | Real Estate | 10% | 0–15% | NCREIF NPI |
| Short-term investments | Cash | 5% | 1–10% | — |
| Domestic Fixed Income | Fixed Income | — | — | Custom Benchmark |
| International Fixed Income | Fixed Income | — | — | WGBI Non-US |
| Cash | Cash | — | — | 3-Month T-BillML 90-Day T-Bill |
| Alternative Investments (equity) | Public Equity | — | — | Russell 2000 +3% |
| Alternative Investments (debt) | Fixed Income | — | — | Bloomberg Capital Agency plus 3% |
| Core Fund | Public Equity | — | — | S&P 500 |
| S&P 500 Fund | Public Equity | — | — | S&P 500 |
| Mid Cap Active Fund (SSF) | Public Equity | — | — | S&P 400 MidCap |
| S&P Mid Cap Index | Public Equity | — | — | S&P 400 MidCap |
| S&P Small Cap Index | Public Equity | — | — | S&P 600 SmallCap |
| Small Cap Active Fund | Public Equity | — | — | S&P 600 SmallCap |
| Large Cap Policy Fund | Public Equity | — | — | S&P 500 |
| Large Cap Value Fund | Public Equity | — | — | S&P 500 |
| Agency | Fixed Income | — | — | Bloomberg Capital Agency |
| Asset Backed | Fixed Income | — | — | Bloomberg Capital ABSBloomberg Capital ABS Index |
| CMO | Fixed Income | — | — | Bloomberg Capital MTGE |
| Corporate | Fixed Income | — | — | Bloomberg Capital Corp |
| Mortgage Pass-Through | Fixed Income | — | — | Bloomberg Capital MTGE |
| US Treasury | Fixed Income | — | — | Bloomberg Capital Treasury |
| Yankee - Agency | Fixed Income | — | — | Bloomberg Capital Agency |
| Yankee – Other | Fixed Income | — | — | Bloomberg Capital Corp |