003 · Benchmarks
New York City ERS.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Domestic Equity | Public Equity | 32.6% | 28.6–36.6%+/-4% | — |
| International - EAFE | Public Equity | 10% | 7–13%+/-3% | — |
| International - Emerging Markets | Public Equity | 6.9% | 4.9–8.9%+/-2% | — |
| Hedge Funds | Hedge Funds / Absolute Return | 4% | 2–6%+/-2% | 1yr T-Bill yield + 4%1yr Treasury Bill yield + 4% |
| Private Equity | Private Equity | 7% | 5–9%+/-2% | Russell 3000 + 3%Russell 3000 Index + 300 bps |
| Real Assets | Real Assets / Infrastructure | 6% | 4–8%+/-2% | — |
| Core +5 Fixed-Income | Fixed Income | 19% | 14–24%+/-5% | — |
| Enhanced Yield | Fixed Income | 4% | 2–6%+/-2% | Citi BB & B Fixed IncomeCitigroup BB & B Fixed Income Index |
| Opportunistic Fixed | Multi-Asset / Other | 5% | +2/-5% | — |
| TIPS | Fixed Income | 4.5% | 3–6%+/-1.5% | Bloomberg US Inflation-LinkedBarclays Capital U.S. Inflation-Linked Index |
| Convertible Bonds | Fixed Income | 1% | 0–2%+/-1% | ICE BofA All US Convertibles ex-MandatoryBank of America Merrill Lynch All US Convertibles ex-Mandatory Index |
| Total Equity | Public Equity | 66.5% | 61.5–71.5%+/-5% | — |
| Total Fixed-Income | Fixed Income | 33.5% | 28.5–38.5%+/-5% | — |
| US Equity | Public Equity | — | — | Russell 3000Russell 3000 Index |
| EAFE | Public Equity | — | — | MSCI EAFEMorgan Stanley Capital International EAFE Index (Net) |
| EAFE Small Cap | Public Equity | — | — | S&P EPAC Small CapS&P EPAC Small Cap Index |
| Emerging Markets Equities | Public Equity | — | — | NYCERS FTSE Custom Emerging MarketsNYCERS FTSE Custom Emerging Markets Index |
| Core+ 5 | Fixed Income | — | — | Citi Core +5 Fixed IncomeCitigroup Core +5 Fixed Income Index |
| Leveraged Loans | Fixed Income | — | — | Credit Suisse Leveraged LoansCredit Suisse Leveraged Loans Index |
| Opportunistic Fixed Income | Fixed Income | — | — | 10% Absolute Annual Return |
| Real Estate | Real Estate | — | — | NFI - ODCE + 1%NFI - ODCE Index +100bps(net) |
| Infrastructure | Real Assets / Infrastructure | — | — | Consumer Price (CPI) plus 4%Consumer Price Index (CPI) plus 4% (net) |