003 · Benchmarks
Miami Fire and Police.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Public Domestic Equity | Public Equity | 32% | 20–40% | Russell 3000Russell 3000 Index |
| Public Foreign Equity | Public Equity | 22% | 10–30% | MSCI EAFE |
| Private Equity Fund of Funds | Private Equity | 4% | 0–8% | MSCI ACWI IMI + 2%MSCI ACWI IMI (1 Qtr lag) + 2% |
| Private Debt | Private Credit / Debt | 3% | 0–6% | Bloomberg High Yield + 2%Bloomberg Barclays High Yield (1 Qtr lag) + 2% |
| Investment Grade Bonds | Fixed Income | 18% | 12–25% | Bloomberg US AggregateBloomberg Barclays U.S. Aggregate |
| Treasuries | Fixed Income | 5% | 2–8% | Bloomberg US Long TreasuryBloomberg Barclays U.S. Long Treasury Total Return |
| High Yield Bonds | Fixed Income | 2% | 0–4% | ICE BofA US High YieldICE BofA US High Yield Total Return |
| Bank Loans | Fixed Income | 2% | 0–4% | S&P UBS Leveraged LoanS&P UBS Leveraged Loan Index |
| Real Estate | Real Estate | 9% | 6–12% | NCREIF ODCENCREIF OCDE |
| Core Infrastructure | Real Assets / Infrastructure | 3% | 0–6% | CPI + 2% |