003 · Benchmarks
Cincinnati ERS.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Core Plus Bonds | Fixed Income | 10.5% | 6.5–14.5% | Bloomberg US AggregateBloomberg U.S. Aggregate |
| Core Bonds | Fixed Income | 9% | 5–13% | Bloomberg US AggregateBloomberg U.S. Aggregate |
| Opportunistic Credit | Private Credit / Debt | 3% | 0–7% | 50% US High Yield / 50% Leveraged Loan50/50 US HY/Leverage loan |
| Private Debt | Private Credit / Debt | 8% | 4–12% | MSCI Global Private Credit |
| Total Fixed Income | Fixed Income | 30.5% | 15.5–46.5% | — |
| All-Cap Core Equity | Public Equity | 24% | 19–29% | — |
| All-Cap Non-U.S. | Multi-Asset / Other | 15% | 10–20% | — |
| Real Estate Core | Real Estate | 4% | 0–8% | — |
| Real Estate Opportunistic | Real Estate | 2% | 0–6% | — |
| Total Real Estate | Real Estate | 6% | 2–10% | — |
| Infrastructure | Real Assets / Infrastructure | 7% | 3–11% | T-Bill + 4% |
| Hedged Funds | Multi-Asset / Other | 4% | 0–8% | CBOE Put/Write or HFRI CompositeCBOE Put/Write Index or HFRI Composite |
| Private Equity | Private Equity | 13.5% | 8.5–18.5% | — |
| Broad U.S. Equity | Public Equity | — | — | Russell 3000 |
| Broad Non-U.S. Core Equity | Public Equity | — | — | ACWI ex USMSCI ACWI ex. U.S. |
| Real Estate - Core | Real Estate | — | — | NCREIF ODCE |
| Real Estate - Value Added | Real Estate | — | — | NCREIF ODCE |
| Real Estate - Non U.S. | Real Estate | — | — | NCREIF ODCE |
| Private Equity Fund of Funds | Private Equity | — | — | MSCI PC Global All PE |
| Private Equity Direct | Private Equity | — | — | MSCI PC Global All PE |