003 · Benchmarks
Indiana Public Retirement System.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Public Equity | Public Equity | 20% | 17–23%+/- 3% | — |
| Private Equity | Private Equity | 10% | 5–15%+/- 5% | — |
| Government Bonds | Fixed Income | 30% | 27–33%+/- 3% | — |
| Public Credit | Fixed Income | 5% | 2–8%+/- 3% | — |
| Private Credit | Private Credit / Debt | 5% | 0–10%+/- 5% | — |
| Commodities | Real Assets / Infrastructure | 10% | 7–13%+/- 3% | — |
| Private Real Assets | Real Assets / Infrastructure | 10% | 5–15%+/- 5% | — |
| Risk Parity | Hedge Funds / Absolute Return | 15% | 10–20%+/- 5% | — |
| Absolute Return | Hedge Funds / Absolute Return | 5% | 0–10%+/- 5% | — |
| Money Market Fund | Cash | — | — | 90-Day T-Bill rate90-day Treasury Bill rate |
| Stable Value Fund | Multi-Asset / Other | — | — | 3yr Constant Maturity Treasury |
| Inflation Linked Fixed Income Fund | Real Assets / Infrastructure | — | — | Bloomberg US TIPSBloomberg US TIPS Index |
| Fixed Income Fund | Fixed Income | — | — | Bloomberg US Aggregate BondBloomberg US Aggregate Bond Index |
| Large Cap Equity Fund | Public Equity | — | — | Standard & Poor's 500Standard & Poor's 500 Index |
| Small/Mid Cap Equity Fund | Public Equity | — | — | Russell Small Cap CompletenessRussell Small Cap Completeness Index |
| International Equity Fund | Public Equity | — | — | Morgan Stanley Capital International (MSCI) All Country World (ACWI) ex USA ex China ex Hong Kong IMI (IMI)Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA ex China ex Hong Kong Investable Market Index (IMI) |
| Target Date Retirement Funds | Multi-Asset / Other | — | — | Composite of various benchmarks that closely match each Target Date Fund's allocation |