City of Phoenix Employees’ Retirement System earned 1.3% on investments for the quarter ended Sept. 30, said Greg Fitchet, investment manager of the $1.96 billion fund. Quarterly returns lagged the custom benchmark by 51 basis points, while the year-to-date returns were 104 bps ahead of the benchmark. For the year ended Sept. 30, returns were 14.25%, 42 bps better than the benchmark.
Cadence Capital, with a $198 million portfolio, led returns for the quarter at 6.53%, beating its Russell 1000 Growth benchmark by 32 bps. Dimensional Fund Advisors, running $182 million, had the lowest quarterly returns at -6.28%, trailing its Russell 1000 Value benchmark by 604 bps.
