Performance and Allocation

Asset Allocation as of December 31, 2017

Asset Class
Assets at Market Actual Target Variance
Domestic Equities $626,463,419 44.4% 42.0% 2.4%
International Equities $334,831,171 23.7% 23.0% 0.7%
Fixed Income $450,185,726 31.9% 35.0% -3.1%
Total $1,411,480,316 100.0% 100.0% 0.0%

 

 Bar_Chart_Q4_2017

Investment Performance for Period Ending December 31, 2017

Total Fund Curr Qtr YTD 1 Yr 3 Yr 5 Yr 7 Yr 10 Yr
Gross of Fees 4.2% 16.0% 16.0% 8.5% 10.9% 9.5% 7.3%
Net of Fees 4.1% 15.6% 15.6% 8.1% 10.4% 9.0% 6.9%
Policy Index* 3.8% 15.7% 15.7% 7.9% 10.2% 9.2% 6.9%

 

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 7.5% 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 4.1% 15.6% 15.6% 8.1% 10.4% 9.0% 6.9%
Policy Index 3.8% 15.7% 15.7% 7.9% 10.2% 9.2% 6.9%
Total Domestic Equity Composite
Net of Fees 6.5% 18.3% 18.3% 10.6% 15.3% 12.3% 7.7%
Wilshire 5000 6.4% 21.0% 21.0% 11.4% 15.7% 13.5%

8.6%

Decatur Capital - LCC
   Net of Fees 7.0% 27.3% 27.3% 10.8%  16.3%    
   Russell 1000  6.6% 21.7% 21.7% 11.2%  15.7%    
SSgA S&P 500
Net of Fees 6.6% 21.8%  21.8%         
S&P 500 6.6% 21.8%  21.8%         
O'Shaughnessy Asset Management - LCV
Net of Fees 9.0% 24.4% 24.4% 10.3%       
Russell 1000 Value 5.3% 13.7% 13.7% 8.7%       
LSV Asset Management - LCV
Net of Fees 7.2% 17.3% 17.3% 9.4%  15.7%    
Russell 1000 Value 5.3% 13.7% 13.7% 8.7%  14.0%    
 
Name Curr Qtr YTD 1 Yr 3 Yrs 5 Yrs 7 Yrs 10 yrs
Ariel Investments - MCV
Net of Fees 6.3% 14.7% 14.7% 7.0% 14.6% 12.0% 9.9%
Russell Midcap Value 5.5% 13.3% 13.3% 9.0% 14.7% 12.8% 9.1%
SSgA S&P 400
   Net of Fees  6.2% 16.2%  16.2%         
   S&P 400 MidCap          6.3% 16.2%  16.2%         
Matarin Capital - SCC
Net of Fees 4.4%  9.4%  9.4%         
Russell 2000  3.3%  14.6%  14.6%         
Mesirow Financial - SCV
   Net of Fee 3.8% 13.7% 13.7% 9.2%  13.3%    
   Russell 2000 Value 2.0% 7.8% 7.8% 9.5%  13.0%    
Wasatch Advisors - SCV
Net of Fees 6.7% 18.7% 18.7% 13.2% 16.7% 13.5% 10.6% 
Russell 2000 Value

2.0%

7.8% 7.8% 9.5% 13.0% 10.8% 8.2% 
Total International Equity Composite
Net of Fees 4.7% 28.6% 28.6% 11.7% 9.4% 9.3%  3.7%
MSCI ACWI ex US 5.0% 27.2% 27.2% 7.8% 6.8% 4.9%   1.8%
Hexavest Inc
Net of Fees 2.8% 17.8% 17.8% 6.4%  6.2%    
Hexavest Benchmark 4.5% 25.1%

25.1%

7.5%  7.3%    
LSV Asset Management - SCV
Net of Fees 3.2% 31.6% 31.6% 15.6%       
S&P Developed ex. US SC 6.2% 32.4% 32.4% 13.4%       
Dimensional Fund Advisors - EM
Net of Fees 7.5% 35.7%  35.7%         
Diversified EM MStar 7.4% 37.3%  37.3%         
SSgA MSCI ACWI ex-US Index - LCC
Net of Fees 4.7% 28.6%  28.6%         
MSCI ACWI ex USA 5.0% 27.2%  27.2%         
Name Curr Qtr YTD 1 Yr 3 Yrs 5 Yrs 7 Yrs 10 yrs
Total Fixed Income Composite
Net of Fees 0.6% 3.9% 3.9% 2.5% 2.4% 3.5%  4.0%
Barclays U.S. Aggregate 0.4% 3.5% 3.5% 2.2% 2.1% 3.2% 4.0%
Neuberger Berman-Core Plus
   Net of Fees 0.6% 4.6% 4.6% 3.1%  2.7%    
   Barclays U.S.          Aggregate    0.4% 3.5% 3.5% 2.2%  2.1%    
State Street -  Passive Bond Market Index
   Net of Fees 0.4% 3.5% 3.5%  2.2%  2.1% 3.2%  
   Barclays U.S.          Aggregate 0.4% 3.5% 3.5% 2.2%  2.1%  3.2%  
 Standish - Global              
   Net of Fees 1.0%  4.3%  4.3%         
   Barclays Global        Aggregate    0.8%  3.0%  3.0%         
Garcia Hamilton & Associates
Net of Fees 0.9% 3.8%  3.8%         
Barclays U.S.  0.4% 3.5%  3.5%         
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