Mendocino County Employees Retirement Association, Ukiah, Calif., returned a net 5.9% for the year ended Sept. 30, above its benchmark return of 5.3%, according to a monthly investment report issued in conjunction with the Oct. 16 board meeting.
For the three-, five- and 10-year periods through Sept. 30, the pension fund returned an annualized net 4.3%, 9% and 7.6%, respectively, compared with their respective benchmark figures of 4.8%, 8.7% and 7.8%.
As of Sept. 30, the $754 million pension fund had an actual asset allocation of 37.7% domestic equities, 25.3% international equities, 20.3% domestic fixed income, 9.3% real estate and 7.4% infrastructure.
Target allocations were not provided in the report.
For the one-year period, the asset class with the best performance was international equities, which returned a net 8.4%, followed by domestic equities (6.8%); domestic fixed income (5.4%); infrastructure (1.9%); and real estate (zero).
The pension fund’s fiscal year ends June 30.
