San Diego city system in top quartile of Callan group

The San Diego City Employees' Retirement System earned 12.81% for the quarter ended June 30. For the year ended June 30, the $2.9 billion system earned 5.25%, placing it in the top 25% of Callan's public fund group, said Doug McCalla, CIO. Using a conservative asset allocation strategy Mr. McCalla developed, the fund had a 8.76% total return for the 10 years ended June 30, placing it in the top 22% of the Callan public fund universe. The fund's asset allocation targets are 38% domestic equity, 15% international equity, 32% domestic fixed income, 5% international fixed income and 10% real estate.