003 · Benchmarks
Milwaukee City ERS.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Public Equity | Public Equity | 36% | 32–40% | — |
| Fixed Income | Fixed Income | 32% | 27%-35%/37% | — |
| Private Real Estate | Real Estate | 12% | 6–15% | — |
| Private Equity | Private Equity | 11% | 8–16% | — |
| Absolute Return | Hedge Funds / Absolute Return | 9% | 6–14% | — |
| Cash | Cash | — | 0–5% | — |
| Passive Domestic Equities (Large Cap) | Public Equity | — | — | S&P 500S&P 500 Index |
| Passive Index Value Domestic Equities | Public Equity | — | — | Russell 1000 ValueRussell 1000 Value Index |
| Active Large Capitalization Value Domestic Equities | Public Equity | — | — | Russell 1000 ValueRussell 1000 Value Index |
| Active Mid Capitalization Domestic Equities | Public Equity | — | — | Russell Mid CapRussell Mid Cap Index |
| Active Small Capitalization Value Domestic Equities | Public Equity | — | — | Russell 2000 ValueRussell 2000 Value Index |
| Active International Equities | Public Equity | — | — | MSCI EAFEMSCI EAFE Index |
| Active International Small Capitalization Equities | Public Equity | — | — | MSCI EAFE Small CapMSCI EAFE Small Cap (Net) Index |
| Active Emerging Markets Equities | Public Equity | — | — | MSCI Emerging MarketsMSCI Emerging Markets Index |
| Enhanced Index Core Global Equities | Public Equity | — | — | MSCI ACWIMSCI All Country World Index |
| Active Growth Global Equities | Public Equity | — | — | MSCI ACWIMSCI All Country World Index |
| Passive Fixed Income | Fixed Income | — | — | Bloomberg US Government BondBloomberg Barclays U.S. Government Bond Index |
| Opportunistic Fixed Income (Reams) | Fixed Income | — | — | Bloomberg AggregateBarclays Capital Aggregate Index |
| Opportunistic Fixed Income (Loomis Sayles) | Fixed Income | — | — | Bloomberg AggregateBloomberg Aggregate Index |
| Core Fixed Income | Fixed Income | — | — | Bloomberg US AggregateBloomberg U.S. Aggregate Index |
| Short-Term Fixed Income | Cash | — | — | Barclays 1-3 year Government/CreditBarclays 1-3 year Government/Credit Index |
| Hedge Fund of Funds (CMERS Low Beta) | Hedge Funds / Absolute Return | — | — | Secured Overnight Financing Rate (SOFR) + 4%Secured Overnight Financing Rate (SOFR) + 400 basis points |
| Hedge Fund of Funds (CMERS Low Beta 2) | Hedge Funds / Absolute Return | — | — | Not specified in guidelines |