San Diego City Employees' Retirement System earned a preliminary return of 3% net of fees for the fiscal year ended June 30, the $7 billion pension fund reported Monday.
The benchmark return was 3.3%, said Liza Crisafi, SDCERS chief investment officer in an e-mail.
Private equity and real estate provided strong returns of 15% and 12%, respectively. U.S. stocks, which make up about a third of the total assets, contributed 6.9%. The worst-performing asset class was emerging markets debt at -9.6%.
