003 · Benchmarks
Houston Municipal.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Global Equity | Public Equity | 28% | — | — |
| Real Estate | Real Estate | 12.5% | — | NCREIF NPINCREIF Property Index |
| ILAC | Multi-Asset / Other | 20% | — | CPI + 4% |
| Private Equity | Private Equity | 17% | — | S&P 500 + 3% |
| Fixed Income - Investment Grade | Fixed Income | 7% | — | — |
| Fixed Income - Non-Investment Grade | Fixed Income | 3% | — | — |
| Private Credit | Private Credit / Debt | 12.5% | — | CSFB Leveraged LoanCSFB Leveraged Loan Index |
| Cash Equivalent | Cash | 0% | — | 0% |
| Global Equity (75%) | Public Equity | — | — | MSCI ACWI IMIMSCI All Country World Index IMI |
| Global Equity (25%) | Public Equity | — | — | MSCI ACWI Minimum VolatilityMSCI All Country World Minimum Volatility Index |
| Fixed Income – Investment Grade | Fixed Income | — | — | Bloomberg US AggregateBloomberg Barclays U.S. Aggregate |
| Fixed Income – Non-Investment Grade | Fixed Income | — | — | ICE BofA High Yield Master Trust IIMerrill Lynch High Yield Master Trust II |