003 · Benchmarks
Missouri PSRS/PEERS.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| U.S. Public Equity Program | Public Equity | 27% | 16–48% | — |
| Public Credit Program | Fixed Income | 7% | 0–20% | Barclays US Intermediate CreditBarclays U.S. Intermediate Credit Index |
| Hedged Asset Program | Multi-Asset / Other | 6% | 0–25% | Customized Hedged Asset Benchmark (25% Russell 3000 , 25% MSCI ACWI Ex-US.A , 50% Barclays US Intermediate Credit )Customized Hedged Asset Benchmark (25% Russell 3000 Index, 25% MSCI ACWI Ex-U.S.A Index, 50% Barclays U.S. Intermediate Credit Index) |
| Non-U.S. Public Equity Program | Public Equity | 15% | 8–28% | MSCI ACWI Ex-US.AMSCI ACWI Ex-U.S.A Index |
| Public Risk Assets | Multi-Asset / Other | 55% | 35–75% | — |
| U.S. Treasury Securities | Fixed Income | 16% | 0–40% | Barclays US TreasuryBarclays U.S. Treasury Index |
| U.S. Treasury Inflation Protected Securities (TIPS) | Real Assets / Infrastructure | 4% | 0–40% | Barclays US TIPS 1-10 YearsBarclays U.S. TIPS 1-10 Years Index |
| Cash Equivalents | Cash | 0% | 0–10% | — |
| Safe Assets | Multi-Asset / Other | 20% | 10–40% | — |
| Private Equity Program | Private Equity | 12% | 4–15% | Russell 3000 (with custom benchmark for long-term returns including MSCI AC World Free Ex-US )Russell 3000 Index (with custom benchmark for long-term returns including MSCI AC World Free Ex-U.S. Index) |
| Private Real Estate Program | Real Estate | 9% | 4–12% | NCREIF Fund – Open End Diversified Core Equity (NCREIF ODCE)NCREIF Fund Index – Open End Diversified Core Equity (NFI-ODCE) |
| Private Credit Program | Private Credit / Debt | 4% | 0–8% | ICE BofA High Yield Master IIMerrill Lynch High Yield Master II Index |
| Private Risk Assets | Multi-Asset / Other | 25% | 10–30% | — |
| Large-Cap U.S. Public Equity Program | Public Equity | — | — | Russell 1000Russell 1000 Index |
| Small-Cap U.S. Public Equity Program | Public Equity | — | — | Russell 2000Russell 2000 Index |