003 · Benchmarks
Missouri State Employees.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Global Public Equities | Public Equity | 40% | 30–50% | MSCI ACWI (ACWI) ex-ChinaMSCI All Country World Index (ACWI) ex-China Index |
| Global Private Equities | Public Equity | 15% | 10–20% | Custom weighted blend of MSCI ACWI ex-China and Burgiss Private Equity – Buyout weighted by Vintage Year and legacy Private Equities (benchmarked to itself)Custom weighted blend of MSCI ACWI ex-China Index and Burgiss Private Equity Index – Buyout weighted by Vintage Year and legacy Private Equities (benchmarked to itself) |
| U.S. Treasuries | Fixed Income | 20% | 15–25% | Bloomberg 7-10 Year TreasuryBloomberg 7-10 Year Treasury Index |
| Private Credit | Private Credit / Debt | 10% | 5–15% | Morningstar Loan Syndications and Trading Association (LSTA) US Leveraged Loan + 1% (LSTA LL)Morningstar Loan Syndications and Trading Association (LSTA) U.S. Leveraged Loan Index + 1% (LSTA LL) |
| Private Real Estate | Real Estate | 5% | 0–10% | National Council of Real Estate Investment Fiduciaries (NCREIF) Open End Diversified Core Equity (ODCE) NCREIF ODCENational Council of Real Estate Investment Fiduciaries (NCREIF) Open End Diversified Core Equity (ODCE) NCREIF ODCE Index |
| Private Real Assets | Real Assets / Infrastructure | 5% | 0–10% | S&P Global InfrastructureS&P Global Infrastructure Index |
| Alternative Beta | Multi-Asset / Other | 15% | 10–20% | Hedge Fund Research, Inc. HFRX Macro/Commodity Trading Advisor (CTA)Hedge Fund Research, Inc. HFRX Macro/Commodity Trading Advisor (CTA) Index |
| Cash | Cash | 0% | 0–2% | — |