San Mateo County Employees' Retirement Association, Redwood City, Calif., returned a net 24.3% for the fiscal year ended June 30, above its policy benchmark of 23.5%, according to a report from its investment consultant, Versus Advisory.
For the three, five and 10 years ended June 30, the pension plan returned a net annualized 9.4%, 9.5% and 8.1%, respectively, below its respective benchmarks of 10.3%, 10.2% and 8.6%.
SamCERA returned a net -0.2% for the fiscal year ended June 30, 2020.
By asset class, private equity returned 86.4% for the year ended June 30, above its 65.5% benchmark. Meanwhile, U.S. equity returned 38.6% (below its benchmark of 44.2%); international equity, 36.9% (34.5%); public real assets, 29.3% (29.2%); private real assets, 27.6% (48.4%); hedge funds, 7.9% (4.1%); real estate, 7.6% (8%); fixed income, 5.7% (3.5%); cash, 0.5%.
The pension plan's asset allocation as of June 30 was 27.6% fixed income, 22.4% U.S. equity, 20.1% international equity, 7.7% real estate, 6.9% private equity, 6.8% hedge funds, 6.1% public real assets, 2% private real assets, and 0.4% cash.
