Primary: CPI + 5%; Secondary: FTSE Developed Core Infrastructure 50/50 + 2%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| San Diego City ERS | Infrastructure | Our copy | Plan's site |
003 · Benchmarks · by asset class
Real Assets / Infrastructure.
95 distinct benchmarks from 16 index providers, named across 88 plans. Benchmarks are grouped by who publishes them; each table lists the plans that use the benchmark, the label they give the sleeve, and their document.
CPI / inflation-plus (30) · Bloomberg (18) · NCREIF (13) · S&P (10) · Cambridge Associates (6) · FTSE (6) · MSCI (6) · Cash rate (4) · Custom blend (4) · Own portfolio return (4) · Burgiss (3) · Dow Jones (2) · Gold price (2) · Alerian (1) · Wilshire (1) · Not stated (4)
CPI / inflation-plus
23 benchmarks · 30 plans
CPI-U + 4%
5 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Arkansas PERS | Real Assets | Our copy | Plan's site |
| Connecticut Retirement Plans and Trust Funds | Infrastructure and Natural Resources | Our copy | Plan's site |
| Nebraska Schools | Infrastructure | Our copy | Plan's site |
| Nebraska State | Infrastructure | Our copy | Plan's site |
| Omaha School | Infrastructure | Our copy | Plan's site |
CPI + 4%
3 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Milwaukee County ERS | Infrastructure - Core · Total Infrastructure | Our copy | Plan's site |
| Missouri DOT and Highway Patrol | Real Assets | Our copy | Plan's site |
| New Mexico Educational | Real Assets | Our copy | Plan's site |
CPI + 2%
2 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Austin Fire | Core Infrastructure | Our copy | Plan's site |
| Miami Fire and Police | Core Infrastructure | Our copy | Plan's site |
CPI + 3%
2 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Louisiana Municipal Police | Real Assets | Our copy | — |
| Vermont Pension Investment Commission | Infrastructure | Our copy | Plan's site |
Bloomberg US Government Inflation-Linked Bond All Maturities
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Pennsylvania School Employees | Inflation Protected | Our copy | Plan's site |
CPI + 3% (Seasonally Adjusted)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Phoenix ERS | Infrastructure | Our copy | Plan's site |
CPI + 5.00%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Illinois Teachers | Other Real Assets | Our copy | Plan's site |
CPI Urban Consumers NSA (CPURNSA) + 4% annually
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Texas ERS | Infrastructure | Our copy | Plan's site |
CPI+ 3%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Kentucky Public Pensions Authority | Real Return | Our copy | Plan's site |
CPI+ 4%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Oregon PERS | Real Assets | Our copy | Plan's site |
CPI+3%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Pennsylvania Municipal | Private Infrastructure | Our copy | Plan's site |
CPI-U + 3%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| MainePERS | Real Assets | Our copy | Plan's site |
Consumer Price (CPI) + 4% annually
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Oklahoma Teachers | Infrastructure | Our copy | Plan's site |
Consumer Price (CPI) plus 4%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| New York City ERS | Infrastructure | Our copy | — |
Consumer Price (CPI) plus 5 percentage points
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Arkansas Teachers | Infrastructure | Our copy | Plan's site |
Consumer Price + 3%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Louisiana Schools | Real Assets | Our copy | Plan's site |
Consumer Price + 4%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| New Hampshire RS | Infrastructure | Our copy | Plan's site |
Consumer Price + 5%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Louisiana Teachers | Infrastructure | Our copy | Plan's site |
Consumer Price plus 375 basis points
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Los Angeles Fire and Police | Infrastructure | Our copy | Plan's site |
Custom benchmark (CPI + 4% annually)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Michigan Office of Retirement Services | Real Return | Our copy | Plan's site |
Quarterly (4 qtrs.) smoothed CPI +1.20% per quarter
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Ohio School Employees | Global Infrastructure | Our copy | Plan's site |
Real Assets Allocation benchmark (CPI + 4%)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Missouri DOT and Highway Patrol | Natural Resources Program | Our copy | Plan's site |
Bloomberg
11 benchmarks · 18 plans
Bloomberg Commodity
7 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| California PERF | LTC - Commodities | Our copy | Plan's site |
| Kern County ERS | Commodities | Our copy | Plan's site |
| Los Angeles Water and Power | Real Return - Commodities | Our copy | Plan's site |
| Ohio PERS | Commodities-All | Our copy | Plan's site |
| Ohio Police & Fire | Commodities | Our copy | Plan's site |
| Pennsylvania School Employees | Commodities | Our copy | Plan's site |
| Vermont Pension Investment Commission | Commodities | Our copy | Plan's site |
Bloomberg US TIPS
3 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Indiana Public Retirement System | Inflation Linked Fixed Income Fund | Our copy | Plan's site |
| Missouri DOT and Highway Patrol | Inflation Protected Securities | Our copy | Plan's site |
| Pennsylvania State ERS | Inflation Protection (TIPS) | Our copy | Plan's site |
Bloomberg Commodities
2 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Louisiana Teachers | Commodities | Our copy | Plan's site |
| Texas County & District | Commodities | Our copy | Plan's site |
Bloomberg Gold Subindex
2 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Ohio PERS | Gold | Our copy | Plan's site |
| Texas County & District | Gold | Our copy | Plan's site |
15% FTSE EPRA/NAREIT Developed Liquid , 25% S&P Global Infrastructure , 10% S&P Global Large Mid Cap Commodity and Resources , 10% Bloomberg Roll select Commodity , 30% Bloomberg 1-10 year US TIPS , 10% Bloomberg US Dollar Floating Rate <5 Year
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Sacramento County ERS | Liquid Real Return | Our copy | Plan's site |
36% Bloomberg TIPS / 14% FTSE NAREIT US Equity / 50% S&P Global Infrastructure
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Los Angeles ERS | Public Real Assets | Our copy | Plan's site |
50% Bloomberg 0-5 Year TIPS / 31% Russell 3000 / 13% MSCI World ex US ND / 6% MSCI Emerging Markets ND
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| District of Columbia Retirement Board | Infrastructure | Our copy | Plan's site |
Barclays US TIPS 1-10 Years
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Missouri PSRS/PEERS | U.S. Treasury Inflation Protected Securities (TIPS) | Our copy | Plan's site |
Bloomberg TIPS
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Idaho PERS | Fixed Income (Real Return/TIPS) | Our copy | Plan's site |
Bloomberg US TIPS 0-5 Year
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Los Angeles Water and Power | Real Return - Passive Short Duration TIPS | Our copy | Plan's site |
S&P Global Infrastructure / S&P Global LargeMidCap Commodity and Resources / Bloomberg Commodity
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Alameda County ERS | Real Assets | Our copy | Plan's site |
NCREIF
10 benchmarks · 13 plans
NCREIF Farmland
3 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Dallas Police and Fire | Natural Resources | Our copy | Plan's site |
| Louisiana Teachers | Farmland | Our copy | Plan's site |
| Vermont Pension Investment Commission | Farmland | Our copy | Plan's site |
NCREIF Timberland
3 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Los Angeles Water and Power | Real Return - Timber | Our copy | Plan's site |
| Massachusetts SRS | Timberland | Our copy | Plan's site |
| Pennsylvania Municipal | Timber | Our copy | Plan's site |
21.2% Bloomberg US TIPS / 8.2% FTSE NAREIT US Equity / 29.4% S&P Global Infrastructure / 41.2% NCREIF ODCE + 0.8%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Los Angeles ERS | Real Assets | Our copy | Plan's site |
65% S&P Global Natural Resources (3-Month lagged); 35% NCREIF Farmland
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| LA County ERS | Natural Resources | Our copy | Plan's site |
Custom Private Real Assets Benchmark (91% NCREIF ODCE , 9% CPI +4%)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Illinois Municipal | Private Real Assets | Our copy | Plan's site |
Market value weighted blend of NCREIF Private Real Estate Benchmark (ODCE lagged by three months) and Other Real Assets Custom Benchmark (CPI-U plus 400 basis points per annum lagged by three months)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Virginia RS | Real Assets | Our copy | Plan's site |
NCREIF Farmland (NFI) and CPI plus 300 basis points
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Arkansas Teachers | Agriculture | Our copy | Plan's site |
NCREIF Farmland Property
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Illinois Universities | Farmland | Our copy | Plan's site |
NCREIF NPI
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Chicago Police | Infrastructure | Our copy | Plan's site |
NCREIF Timberland Property (NTPI) and CPI plus 300 basis points
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Arkansas Teachers | Timberland | Our copy | Plan's site |
S&P
9 benchmarks · 10 plans
S&P Global Infrastructure
2 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Dallas Police and Fire | Infrastructure | Our copy | Plan's site |
| Missouri State Employees | Private Real Assets | Our copy | Plan's site |
S&P Global Natural Resources
2 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| District of Columbia Retirement Board | Natural Resources | Our copy | Plan's site |
| Phoenix ERS | Natural Resources | Our copy | Plan's site |
20% S&P Global Natural Resources, 80% DJ-Brookfield Infrastructure
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Maryland State Retirement and Pension System | Natural Resources & Infrastructure | Our copy | Plan's site |
47% FTSE EPRA NAREIT Global REITS GD (qtr. lag), 37% Dow Jones Brookfield Global Infrastructure (qtr. lag), 9% S&P Global Timber & Forestry (qtr. lag), 7% S&P GSCI Agriculture (qtr. lag)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Hawaii ERS | Broad Growth - Real Assets | Our copy | Plan's site |
Goldman Sachs Commodity (SPGCCITR)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Texas Teachers | Commodities | Our copy | Plan's site |
S&P / Dow Jones Brookfield Global Infrastructure
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| New Mexico PERA | Illiquid Real Assets | Our copy | Plan's site |
S&P GSCI Agriculture (qtr. lag), S&P Global Timber & Forestry (qtr. lag)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Hawaii ERS | Timber/Agriculture | Our copy | Plan's site |
S&P GSCI Daily
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| California PERF | CERBT - Commodities · JRSII - Commodities · LRS - Commodities | Our copy | Plan's site |
S&P GSCI Gold
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Ohio Police & Fire | Gold | Our copy | Plan's site |
Cambridge Associates
6 benchmarks · 6 plans
40% Cambridge Natural Resources/40% Cambridge Infrastructure/20% quarterly Consumer Price – lagged one quarter
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Texas Teachers | Energy, Natural Resources and Infrastructure | Our copy | Plan's site |
50% Cambridge Infrastructure + 50% NCREIF NCREIF ODCE
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Texas Municipal | Real Assets | Our copy | Plan's site |
60% Cambridge Private Infrastructure , 30% Cambridge Private Energy , 10% NCREIF Farmland
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Sacramento County ERS | Real Assets | Our copy | Plan's site |
70% NCREIF ODCE for Core and Cambridge Real Estate for Non-Core / 20% Cambridge Infrastructure / 10% Cambridge Natural Resources
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| San Francisco City & County ERS | Real Assets | Our copy | Plan's site |
Cambridge Private Infrastructure
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Employees' Retirement System of Rhode Island | Private Real Assets (ex-Real Estate) | Our copy | Plan's site |
Cambridge Real Assets
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Wyoming Public Employees | Private Real Assets | Our copy | Plan's site |
FTSE
5 benchmarks · 6 plans
FTSE Developed Core Infrastructure 50/50
2 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Chicago Fire | Infrastructure | Our copy | Plan's site |
| Illinois Universities | Core/Core-Plus Infrastructure | Our copy | Plan's site |
FTSE 10 Year Treasury OTR
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Fairfax County Schools | Private Infrastructure | Our copy | Plan's site |
FTSE Core Developed Infrastructure 50/50
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Chicago Teachers | Infrastructure | Our copy | Plan's site |
FTSE Developed Core Developed 50/50
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Mississippi PERS | Private Infrastructure | Our copy | — |
FTSE Developed Core Infrastructure 50/50 Net
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Pennsylvania School Employees | Public Infrastructure | Our copy | Plan's site |
MSCI
6 benchmarks · 6 plans
MSCI Global Infrastructure
2 plans
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Louisiana Firefighters | Real Assets | Our copy | Plan's site |
| Orange County ERS | Real Assets - Infrastructure | Our copy | Plan's site |
75% MSCI Global Private Infrastructure Closed-End Fund (USD), lagged 1 quarter and 25% MSCI Global Private Natural Resources Closed-End Fund (USD), lagged 1 quarter
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Minnesota State Board of Investment | Private Real Assets | Our copy | Plan's site |
MSCI ACWI IMI
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| San Diego County ERA | Private Real Assets | Our copy | Plan's site |
MSCI Global Natural Resources
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Orange County ERS | Real Assets - Energy | Our copy | Plan's site |
MSCI Global Private Infrastructure Closed-End Fund (Frozen; USD), one
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Pennsylvania School Employees | Private Infrastructure | Our copy | Plan's site |
MSCI/PREA US ACOE Quarterly Property Fund (Unfrozen)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| California PERF | Real Assets | Our copy | Plan's site |
Cash rate
4 benchmarks · 4 plans
3-Month T-Bill
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Fairfax County Schools | Private Natural Resources | Our copy | Plan's site |
LIBOR + 4%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Chicago Laborers | Global Infrastructure | Our copy | Plan's site |
SOFR + 4%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Chicago Municipal | Infrastructure | Our copy | Plan's site |
T-Bill + 4%
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Cincinnati ERS | Infrastructure | Our copy | Plan's site |
Custom blend
4 benchmarks · 4 plans
50% Real Estate Benchmark / 37.5% Infrastructure Benchmark / 12.5% Natural Resources Benchmark
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| District of Columbia Retirement Board | Real Assets | Our copy | Plan's site |
73% Custom Real Estate Benchmark / 27% Infrastructure Benchmark
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Oklahoma Teachers | Real Assets | Our copy | Plan's site |
Blend
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Illinois Universities | Real Assets · Total Inflation Sensitive | Our copy | Plan's site |
Weighted benchmark (REIT, Commodity, Infrastructure, TIPS)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| California PERF | SIP TRD - Real Assets | Our copy | Plan's site |
Own portfolio return
4 benchmarks · 4 plans
Actual Real Assets Portfolio Return
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| University of California | Real Assets | Our copy | Plan's site |
Actual Return of Fund
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Dallas Police and Fire | Huff Energy | Our copy | Plan's site |
Actual time-weighted Private Real Assets returns
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Kern County ERS | Private Real Assets | Our copy | Plan's site |
Portfolio (actual returns)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Iowa PERS | Private Real Assets | Our copy | Plan's site |
Burgiss
3 benchmarks · 3 plans
75% ODCE / 25% Burgiss Core USD Infrastructure > $1 billion
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| South Carolina Retirement System Investment Commission | Real Assets | Our copy | Plan's site |
Blended weighted average of primary composite benchmarks (Real Estate: NCREIF ODCE Net EWA, Infrastructure: Burgiss Global Infrastructure Funds , Gold: Bloomberg Gold Subindex )
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Austin ERS | Real Assets | Our copy | Plan's site |
Custom Infrastructure (Burgiss Infrastructure Universe pooled time-weighted return; vintage years 2016 to present)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Seattle ERS | Infrastructure | Our copy | Plan's site |
Dow Jones
2 benchmarks · 2 plans
Dow Jones Brookfield Global Composite Infrastructure (3-Month Lagged)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| LA County ERS | Infrastructure | Our copy | Plan's site |
Dow Jones Brookfield Global Infrastructure (qtr. lag)
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Hawaii ERS | Infrastructure | Our copy | Plan's site |
Gold price
2 benchmarks · 2 plans
IAUM Gold ETF
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Ohio School Employees | Gold | Our copy | Plan's site |
Alerian
1 benchmark · 1 plan
Alerian Midstream Energy
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Ohio Police & Fire | Midstream Energy Infrastructure | Our copy | Plan's site |
Wilshire
1 benchmark · 1 plan
FT Wilshire Private Infrastructure plus 50 basis points
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Los Angeles Water and Power | Infrastructure | Our copy | Plan's site |
Not stated
4 benchmarks · 4 plans
Measured by stated strategy target
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Illinois Universities | Non-Core Infrastructure | Our copy | Plan's site |
Not explicitly named in IPS
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| North Dakota Teachers | Global Real Assets | Our copy | Plan's site |
Real Assets Custom
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Orange County ERS | Real Assets | Our copy | Plan's site |
See Real Assets Investment Policy
1 plan
| Plan | Labelled as | IPS | Source |
|---|---|---|---|
| Ohio Police & Fire | Real Assets | Our copy | Plan's site |