San Francisco City & County Employees returns 7.8% for fiscal year

San Francisco City & County Employees' Retirement System returned 7.8% in the fiscal year ended June 30, a recently released report from CIO William J. Coaker Jr. shows.

The preliminary investment return comes slightly ahead of the pension fund's required rate of return of 7.4%, Mr. Coaker said in the report.

Among asset class returns disclosed in the report, private equity returned 17.5%, while private credit returned 10.7%, real assets returned 8.6% and public equities returned 5.8%. Returns for absolute return and fixed income were not disclosed. Whether the returns were gross or net of fees could not be immediately learned.

As of May 31, SFERS' actual allocation was 32.9% public equities, 21.2% private equity, 16.7% real assets, 13.6% absolute return, 10.8% fixed income and 2.7% private credit.

The target allocation is 31% public equities, 18% private equity, 17% real assets, 15% absolute return, 10% private credit, 6% U.S. Treasuries and 3% liquid credit.

Mr. Coaker and Darlene Armanino, executive assistant and board secretary could not be immediately reached to provide further information.