Performance and Allocation

Asset Allocation as of December 31, 2018

Asset Class
Assets at Market Actual Target Variance
Domestic Equities $507,325,154 40.7% 42.0% -1.3%
International Equities $277,532,631 22.3% 23.0% -0.7%
Fixed Income $397,983,939 31.9% 30.0% 1.9%
Real Estate $64,189,997 5.1% 5.0% 0.1%
Total $1,247,031,721 100.0% 100.0% 0.0%

 

Q4_2018

Investment Performance for Period Ending December 31, 2018

Total Fund Curr Qtr YTD 1 Yr 3 Yr 5 Yr 7 Yr 10 Yr
Gross of Fees -9.1% -6.9% -6.9% 5.9% 5.0% 8.3% 9.7%
Net of Fees -9.1% -7.2% -7.2% 5.5% 4.6% 7.9% 9.2%
Policy Index* -8.7% -6.7% -6.7% 5.6% 4.9% 7.9% 9.4%

 

The Fund is expected to exceed the Policy Index over rolling four quarters. The current Policy Index is:

  • 21% S&P 500 Index
  • 10% Russell MidCap Index
  • 11% Russell 2000 Index
  • 11% MSCI ACWI Ex-US Index
  •  6% S&P Developed Small Cap Ex-US Index
  •  6% MSCI Emerging Markets Index
  •  7% Barclays Global Aggregate (Hedged) Index
  • 23% Barclays Aggregate Index
  •  5% NFI-ODCE Index

 

The Fund is expected to exceed the actuarial target return of 7.25% over a complete market cycle of approximately 5 years.

 

 

Name Curr Qtr YTD 1 Yr 3 Yrs 5 Yrs 7 Yrs 10 yrs
Total Fund
Net of Fees -9.1% -7.2% -7.2% 5.5% 4.6% 7.9% 9.2%
Policy Index -8.7% -6.7% -6.7% 5.6% 4.9% 7.9% 9.4%
Total Domestic Equity Composite
Net of Fees -16.2% -10.0% -10.0% 7.2% 5.9% 11.3% 12.4%
Wilshire 5000 -14.3% -5.3% -5.3% 9.1% 8.1% 12.5%

13.2%

Decatur Capital - LCC
   Net of Fees -16.2% -4.2% -4.2% 8.5%  9.0%  12.6%  
   Russell 1000  -13.8% -4.8% -4.8% 9.1% 8.2%  12.6%  
SSgA S&P 500
Net of Fees -13.5% -4.4%  -4.4%  9.3%       
S&P 500 -13.5% -4.4%  -4.4%  9.3%       
O'Shaughnessy Asset Management - LCV
Net of Fees -17.3% -11.8% -11.8% 8.5%  5.4%     
Russell 1000 Value -11.7% -8.3% -8.3% 7.0%  5.9%     
LSV Asset Management - LCV
Net of Fees -14.6% -13.2% -13.2% 6.0%  5.2%  11.3%  
Russell 1000 Value -11.7% -8.3% -8.3% 7.0% 5.9%  11.0%  
 
Name Curr Qtr YTD 1 Yr 3 Yrs 5 Yrs 7 Yrs 10 yrs
Ariel Investments - MCV
Net of Fees -16.6% -13.3% -13.3% 4.0% 2.9% 10.7% 14.1%
Russell Midcap Value -15.0% -12.3% -12.3% 6.1% 5.4% 10.9% 13.0%
SSgA S&P 400
   Net of Fees  -17.3% -11.1%  -11.1%  7.6%      
   S&P 400 MidCap          -17.3% -11.1%  -11.1%   7.7%      
Matarin Capital - SCC
Net of Fees -20.6%  -14.4%  -14.4%  5.4%       
Russell 2000  -20.2%  11.0% -11.0% 7.4%       
Mesirow Financial - SCV
   Net of Fee -19.1% -15.5% -15.5% 3.4% 3.1% 8.3%   
   Russell 2000 Value -18.7% -12.9% -12.9% 7.4%  3.6% 9.6%   
Wasatch Advisors - SCV
Net of Fees -15.8% -9.3% -9.3% 9.3% 6.7% 12.2% 15.7%
Russell 2000 Value

-18.7%

-12.9% -12.9% 7.4% 3.6% 9.6% 10.4% 
Total International Equity Composite
Net of Fees -10.6% -14.3% -14.3% 5.2% 3.7% 6.9%  8.0%
MSCI ACWI ex US -11.5% -14.2% -14.2% 4.5% 0.7% 4.8%   6.6%
Hexavest Inc
Net of Fees -8.3% -10.8% -10.8% 3.6% 0.7% 4.8%  
Hexavest Benchmark -12.4% -14.1%

-14.1%

3.6% 0.5% 5.2%  
LSV Asset Management - SCV
Net of Fees -16.1% -20.0% -20.0% 4.7%      
S&P Developed ex. US SC -16.6% -18.4% -18.4% 3.9%      
Dimensional Fund Advisors - EM
Net of Fees -6.4% -11.9%  -11.9%        
Diversified EM MStar -7.5% -14.6% -14.6%        
SSgA MSCI ACWI ex-US Index - LCC
Net of Fees 0.7% -2.9% 1.9%        
MSCI ACWI ex USA 0.7% -3.1% 1.8%        
Name Curr Qtr YTD 1 Yr 3 Yrs 5 Yrs 7 Yrs 10 yrs
Total Fixed Income Composite
Net of Fees 1.0% 0.0% 0.0% 2.7% 2.5% 2.4% 3.7%
Barclays U.S. Aggregate 1.6% 0.0% 0.0% 2.1% 2.5% 2.1% 3.5%
Neuberger Berman-Core Plus
   Net of Fees 0.6% -0.1% -0.1% 3.2% 2.9%    
   Barclays U.S.          Aggregate    1.6% 0.0% 0.0% 2.1% 2.5%    
State Street -  Passive Bond Market Index
   Net of Fees 1.6% 0.0% 0.0% 2.0%  2.5% 2.1%  3.5%
   Barclays U.S.          Aggregate 1.6% 0.0% 0.0% 2.1%  2.5%  2.1%  3.5%
 Standish - Global       
   Net of Fees 0.2% -0.3%  -0.3%   2.4%      
   Barclays Global        Aggregate    1.7% 1.8% 1.8%   2.9%      
Garcia Hamilton & Associates
Net of Fees 1.2% 0.7% 0.7%         
Barclays U.S.  1.6% 0.0% 0.0%         
Real Estate Composite       
Net of Fees 1.5%            
NFI 1.5%            
RREEF II
Net of Fees 1.5%            
NFI 1.5%            
UBS Trumbull Property Fund       
Net of Fees 1.5%            
NFI 1.5%            
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