003 · Benchmarks
District of Columbia Retirement Board.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Fixed Income | Fixed Income | 23% | — | — |
| Public Equities | Public Equity | 41% | — | — |
| Private Equity | Private Equity | 13% | 6–20% | 61% Russell 3000 / 27% MSCI World Ex US ND / 12% MSCI Emerging Markets ND |
| Private Credit | Private Credit / Debt | 7% | 2–12% | Bloomberg US High Yield |
| Private Real Assets | Real Assets / Infrastructure | 16% | — | — |
| Private Real Assets - Real Estate | Real Estate | 8% | 6–10% | — |
| Private Real Assets - Infrastructure | Real Assets / Infrastructure | 6% | 0–10% | — |
| Private Real Assets - Natural Resources | Real Assets / Infrastructure | 2% | 0–5% | — |
| Cash | Cash | — | 0–5% | ICE BofA 90-Day US T-BillICE BofAML 90-day US T-Bills |
| U.S. Intermediate Gov't Bonds | Fixed Income | — | 3–11% | Bloomberg IT Gov't Bonds |
| U.S. Long Gov't Bonds | Fixed Income | — | 0–10% | Bloomberg LT Gov't Bonds |
| U.S. Short Term TIPS | Cash | — | 0–10% | — |
| U.S. High Yield | Fixed Income | — | 0–4% | Bloomberg US High YieldBloomberg U.S. High Yield |
| Bank Loans | Fixed Income | — | 0–4% | CS Leveraged Loan |
| International Bonds | Fixed Income | — | 0–4% | Bloomberg Global ex US AggregateBloomberg Global ex U.S. Aggregate |
| Emerging Markets Bonds | Fixed Income | — | 0–4% | 50% JPM GBI-EM Global Diversified / 50% JPM EMBI Global Diversified |
| U.S. Equities | Public Equity | — | 19–31% | Russell 3000 |
| Int'l. Dev. Markets Eq. | Multi-Asset / Other | — | 7–15% | MSCI World ex US ND |
| Emerging Markets Eq. | Multi-Asset / Other | — | 2–8% | MSCI Emerging Markets ND |
| Short-Term U.S. TIPS | Cash | — | — | Bloomberg 0-5 Year TIPS |
| Real Estate | Real Estate | — | — | FTSE EPRA NAREIT GlobalFTSE EPRA NAREIT Global (net) |
| Infrastructure | Real Assets / Infrastructure | — | — | 50% Bloomberg 0-5 Year TIPS / 31% Russell 3000 / 13% MSCI World ex US ND / 6% MSCI Emerging Markets ND |
| Natural Resources | Real Assets / Infrastructure | — | — | S&P Global Natural Resources |
| Real Assets | Real Assets / Infrastructure | — | — | 50% Real Estate Benchmark / 37.5% Infrastructure Benchmark / 12.5% Natural Resources Benchmark |