Performance and Allocation

Asset Allocation as of September 30, 2017

Asset Class
Assets at Market Actual Target Variance
Domestic Equities $597,792,526 43.3% 42.0% 1.3%
International Equities $333,112,580 24.2% 23.0% 1.2%
Fixed Income $447,285,774 32.5% 35.0% -2.5%
Total $1,378,190,880 100.0% 100.0% 0.0%

 

 

Q3_2017

Investment Performance for Period Ending September 30, 2017

Total Fund Curr Qtr YTD 1 Yr 3 Yr 5 Yr 7 Yr 10 Yr
Gross of Fees 3.6% 11.3% 13.3% 8.1% 10.2% 10.1% 6.7%
Net of Fees 3.5% 11.0% 12.9% 7.7% 9.8% 9.6% 6.4%
Policy Index* 1.8% 5.6% 7.5% 7.5% 7.6% 7.7% 7.7%

 

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 Ex-US Index
  •  6% MSCI Emerging Markets Index
  •  7% Barclays Global Aggregate (Hedged) Index
  • 28% Barclays Aggregate Index

 

The Fund is expected to exceed the actuarial target return of 7.5% 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 3.5% 11.0% 12.9% 7.7% 9.8% 9.6% 6.4%
Policy Index 3.7% 11.4% 12.2% 7.8% 9.6% 9.7% 6.4%
Total Domestic Equity Composite
Net of Fees 4.1% 11.1% 18.4% 10.3% 14.2% 13.3%  6.8%
Wilshire 5000 4.6% 13.7% 18.9% 11.0% 14.3% 14.3%

7.6%

Decatur Capital - LCC
   Net of Fees 5.5% 19.0% 19.3% 10.7%  14.7%    
   Russell 1000  4.5% 14.2% 18.5% 10.6%  14.3%    
SSgA S&P 500
Net of Fees 4.5% 14.2%  18.6%         
S&P 500 4.5% 14.2%  18.6%         
O'Shaughnessy Asset Management - LCV
Net of Fees 5.6% 14.2% 23.4% 7.7%       
Russell 1000 Value 3.1% 7.9% 15.1% 8.5%       
LSV Asset Management - LCV
Net of Fees 5.2% 9.4% 20.6% 8.3%  14.7%    
Russell 1000 Value 3.1% 7.9% 15.1% 8.5%  13.2%    
 
Name Curr Qtr YTD 1 Yr 3 Yrs 5 Yrs 7 Yrs 10 yrs
Ariel Investments - MCV
Net of Fees 0.2% 8.0% 12.2% 7.3% 13.6% 12.9% 8.7%
Russell Midcap Value 2.1% 7.4% 13.4% 9.2% 14.3% 13.8%  7.9%
SSgA S&P 400
   Net of Fees  3.2% 9.4%  17.4%         
   S&P 400 MidCap          3.2% 9.4%  17.5%         
Matarin Capital - SCC
Net of Fees 3.7%  4.9%  16.5%         
Russell 2000  5.7%  10.9%  20.7%         
Mesirow Financial - SCV
   Net of Fee 4.5% 9.6% 21.4% 10.3%  12.8%    
   Russell 2000 Value 5.1% 5.7% 20.5% 12.1%  13.3%    
Wasatch Advisors - SCV
Net of Fees 6.1% 11.3% 21.0% 12.4% 16.3% 15.2% 9.0% 
Russell 2000 Value

5.1%

5.7% 20.5% 12.1% 13.3% 12.8% 7.1% 
Total International Equity Composite
Net of Fees 6.2% 22.9% 21.8% 9.5% 9.1% 7.6%   2.8%
MSCI ACWI ex US 6.2% 21.1% 19.6% 4.7% 7.0% 5.2%   1.3%
Hexavest Inc
Net of Fees 3.2% 14.6% 14.4% 4.0%  6.2%    
Hexavest Benchmark 5.8% 19.8%

19.0%

4.6%  7.6%    
LSV Asset Management - SCV
Net of Fees 8.6% 27.6% 31.7%        
S&P Developed ex. US SC 7.0% 24.6% 20.7%        
Dimensional Fund Advisors - EM
Net of Fees 6.4% 19.6%           
Diversified EM MStar 7.9% 22.5%           
SSgA MSCI ACWI ex-US Index - LCC
Net of Fees 6.2% 21.4%  19.9%         
MSCI ACWI ex USA 6.2% 21.1%  19.6%         
Name Curr Qtr YTD 1 Yr 3 Yrs 5 Yrs 7 Yrs 10 yrs
Total Fixed Income Composite
Net of Fees 0.7% 3.3% 0.8% 2.7% 2.4% 3.3%  4.2%
Barclays U.S. Aggregate 0.8% 3.1% 0.1% 2.7% 2.1% 3.0% 4.3%
Neuberger Berman-Core Plus
   Net of Fees 1.2% 4.0% 1.6% 3.3%      
   Barclays U.S.          Aggregate    0.8% 3.1% 0.1% 2.7%      
State Street -  Passive Bond Market Index
   Net of Fees 0.8% 3.1% 0.1%  2.7%  2.1%  2.9%  
   Barclays U.S.          Aggregate 0.8% 3.1% 0.1% 2.7%  2.1%  3.0%  
 Standish - Global              
   Net of Fees 0.1%  3.3%  1.6%         
   Barclays Global        Aggregate    0.8%  2.2%  -0.2%         
Garcia Hamilton & Associates
Net of Fees 0.5% 2.9%           
Barclays U.S.  0.8% 3.1%           
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