003 · Benchmarks
San Diego County ERA.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Total Liquid Equity | Public Equity | 45% | 40–50% | MSCI ACWI IMI |
| Global Equity | Public Equity | 2% | 0–12% | MSCI ACWI IMI |
| U.S. Equity | Public Equity | 26% | 21–31% | MSCI USA IMI |
| Non-U.S. Equity Developed | Public Equity | 12% | 8–16% | — |
| Non-U.S. Equity Emerging | Public Equity | 5% | 0–10% | — |
| Risk-Reducing Fixed Income | Fixed Income | 23% | 13–30% | Bloomberg US Intermediate AggregateBloomberg U.S. Intermediate Aggregate Index |
| Return-Seeking Fixed Income | Fixed Income | 8% | 0–12% | ICE BofA US High Yield ConstrainedICE BofA U.S. High Yield Constrained Index |
| Opportunistic | Multi-Asset / Other | 5% | 0–15% | 70% ACWI IMI / 30% Bloomberg US Intermediate Aggregate Balanced Benchmark70% ACWI IMI / 30% Bloomberg U.S. Intermediate Aggregate Index Balanced Benchmark |
| Total Private Assets | Multi-Asset / Other | 19% | 8–25% | — |
| Real Estate | Real Estate | 10% | 5–15% | NCREIF ODCENCREIF ODCE Index |
| Private Equity | Private Equity | 6% | 0–12% | MSCI ACWI IMI |
| Private Debt | Private Credit / Debt | 3% | 0–6% | 70% ACWI IMI / 30% Bloomberg US Intermediate Aggregate Balanced Benchmark70% ACWI IMI / 30% Bloomberg U.S. Intermediate Aggregate Index Balanced Benchmark |
| Private Real Assets | Real Assets / Infrastructure | 0% | 0–6% | MSCI ACWI IMI |
| Non-U.S. Equity: Developed | Public Equity | — | — | MSCI EAFE IMI |
| Non-U.S. Equity: Emerging | Public Equity | — | — | MSCI Emerging MarketsMSCI Emerging Markets Index |