Orange County Employees Retirement System, Santa Ana, Calif., returned 11.7% on its investments in 2010, down from 18.51% the previous year, Robert Kinsler, spokesman, wrote in an e-mailed response to questions.
The top-performing asset class for the $8.6 billion system last year was global real estate securities, at 21.5%, followed by U.S. equities, 15.9%; absolute return, 15.77%; international equities, 13.14%; real estate, 11.43%; and alternative assets, 11.25%.
Separately, the system created an investment committee made up of the full board that will have final say on all investment-related topics. In the past, the system had an investment committee and private markets committee. The change was made as a result of a Hewitt EnnisKnupp governance review completed Dec. 20.
