Contra Costa County Employees' Retirement System, Concord, Calif., returned a gross 2% for the year ended June 30.
The $8.9 billion pension fund's gross return equaled its policy benchmark return for the year, confirmed CEO Gail Strohl in an email.
For the three, five and 10 years ended June 30, the pension fund returned an annualized gross 5.2%, 5.6% and 9%, respectively, compared with the respective benchmarks of 5.4%, 6% and 8.9%.
The pension fund returned a gross 6% for the year ended June 30.
By asset class, global equity was the best performer, with a gross return of 10.8% for the year ended June 30 (above its benchmark of 2.1%); followed by diversifying fixed income at 4.5% (above its benchmark of 3.1%); liquidity, 4% (4.2%); private equity, 3.8% (-3.2%); domestic equities, 2.1% (6.5%); risk parity, 1.2% (3.4%); private credit, 1.1% (0.9%); high yield, -1% (-1.1%); real estate, -1.5% (0.9%); international equities, -4% (-10.8%); emerging markets equities, -11.8% (-3.4%); and defensive equity, -10.6% (no benchmark provided).
As of June 30, the actual allocation was 20.2% liquidity, 11.4% private equity, 10.9% domestic equities, 10.7% international equities, 10.4% global equities, 7.7% real estate, 7.1% private credit, 6.8% emerging markets equities, 5% risk parity, 3.1% diversifying fixed income, 2.2% each cash and high yield, 2% diversifying equity and the rest in overlay.
The pension fund's fiscal year ends Dec. 31.
