003 · Benchmarks
Arkansas Teachers.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Total Equity | Public Equity | 46% | 41–51% | DJ US Total Stock Market and MSCI ACWI IMI ex China ex Hong Kong (weighted blend)Dow Jones U.S. Total Stock Market Index and MSCI ACWI IMI ex China ex Hong Kong Index (weighted blend) |
| Fixed Income | Fixed Income | 18% | 15–21% | Bloomberg US Universal BondBarclays U.S. Universal Bond Index |
| Opportunistic/Alternatives | Multi-Asset / Other | 5% | N/A | Weighted average of benchmarks of underlying strategies |
| Real Assets | Real Assets / Infrastructure | 14% | N/A | — |
| Private Credit | Private Credit / Debt | 5% | N/A | Morningstar LSTA Leveraged Loan plus 2 percentage points liquidity premiumMorningstar LSTA Leveraged Loan Index plus 2 percentage points liquidity premium |
| Private Equity | Private Equity | 12% | N/A | DJ US Total Stock Market plus 2 percentage points liquidity premiumDow Jones U.S. Total Stock Market Index plus 2 percentage points liquidity premium |
| Cash Equivalents | Cash | 0% | 0–5% | Capital preservation and liquidity maintenance |
| Real Estate | Real Estate | — | — | NCREIF Fund Open-end Diversified Core Equity (NFIODCE)NCREIF Fund Index Open-end Diversified Core Equity Index (NFIODCE) |
| Timberland | Real Assets / Infrastructure | — | — | NCREIF Timberland Property (NTPI) and CPI plus 300 basis pointsNCREIF Timberland Property Index (NTPI) and CPI plus 300 basis points |
| Agriculture | Real Assets / Infrastructure | — | — | NCREIF Farmland (NFI) and CPI plus 300 basis pointsNCREIF Farmland Index (NFI) and CPI plus 300 basis points |
| Infrastructure | Real Assets / Infrastructure | — | — | Consumer Price (CPI) plus 5 percentage pointsConsumer Price Index (CPI) plus 5 percentage points |