Fund Universe Library

Information Items: These items are not presented for Committee action but consist of status updates and cyclical reports ... 20 ... 6 Capital Market Assumptions ... NEPC representatives presented the 2026 Capital Market Assumptions, which are critical for understanding the expected returns, volatility, and correlations of various asset classes over a 10-year and 30-year horizon. These assumptions are used to inform strategic asset allocation decisions and policy implications. Asset allocation is

submit this Annual Comprehensive ... for the Year Ended December ... After early anxieties about a recession, the US market rallied in 2023, with the S&P 500 gaining over 24%. This turnaround was fueled by easing inflation, a resil ient economy, and the prospect of lower interest rates. Technology and financials were strong performers, while sectors like electric vehicles faced headwinds. The total fund had a 12.7% gross rate of return, and the fund ranked in the 28th percentile of comparable pe

Information Items: These items are ... 1. Performance Review of the Total Fund and Public Assets including Fixed Income as of June 30, 2023 ... 2. Private Markets Environment Update as of June 30, 2023 ... 3. Real Estate Market Update ... 11:15 – 11:30 Avery Robinson, Callan Inc. Aaron Quach, Callan Inc. John Ta, ACERA Betty Tse, ACERA

H. MISCELLANEOUS:  Quarterly Financial Statements as of 09/30/23  Operating Expenses as of 09/30/23  Quarterly Cash Forecast Report  Board Member Conference Expense Report for 3 rd Quarter 2023  Senior Manager Conference and Training Expense Report for 3 rd Quarter 2023  Quarterly Report on Member Underpayments and Overpayments  3 rd Quarter 2023 Call Center Report ... Investments- at Fair Value: Short-Term Investments (Note 9) Domestic Equity Domestic Equity Commingled Funds Internationa

PERFORMANCE EVALUATION ... IA 10 XI. MONITORING AND REPORTING 10 XII. REAL ASSETS INFORMATION DISCLOSURE POLICY 11 XIII. TABLE OF AMENDMENT DATES 11 Appendix I – List of Reports Required for Each Investment Recommendation/Approval 12 Appendix II – Executive Summary Report Template 13 ... for Real Assets Investment/Commit ... 14 Appendix IV – Details of ... for Real Assets Investments ( ... ) 17 ... ) For Real Assets 18 Portfolio ... Consultant hired by the Board is a ... ACERA and its Board.

the Fund's overall returns can be enhanced, on a ... investing a portion of its assets in Real Estate. The strategic objective of such investments is to:  Generate returns superior to those available in the public equity market to compensate the Fund for the longer term and illiquid commitments associated with RE investments;  Enhance ACERA’s long-term risk adjusted return, provide additional diversification to ACERA’s overall investment Fund, and serve as a hedge against inflation;  Produce

s Private Equity Portfolio ... Great Hill Equity Partners Paige Shetty, Great Hill Equity Partners Rose Dean, NEPC Noe Reynoso ... V. STRATEGIC OBJECTIVE OF THE REAL ESTATE PORTFOLIO The Board believes the Fund's overall returns can be enhanced, on a risk-adjusted basis, by investing a portion of its assets in Real Estate. The strategic objective of such investments is to:  Generate returns superior to those available in the public equity market to compensate the Fund for the longer term and il

This is the Performance Measurement Report presentation for the Alameda County Employees' Retirement. Association (“ACERA”) Real Estate

Semiannual Performance Review for the Period Ending June 30, 2025 – Real Estate ... As of 06/30/25, the Real Estate Portfolio had a total market value of $987.2 million, which represented 6.3% of the Total Fund (asset class target is 8.2%). For the last 6-months ending 06/30/2025, ACERA’s Real Estate portfolio had a net return of 0.7%, underperforming the NFI-ODCE benchmark return of 1.7%. For the trailing 3-year period, ACERA’s Real Estate portfolio had a net return of –5.5% outperforming th

This is the Performance Measurement Report presentation for the Alameda County Employees' Retirement Association (“ACERA”) Real Estate

Semiannual Performance Review for the Period Ending December ... 25 – Total Fund Highlighting Public Markets Asset Classes ... 05 – ... 12:15 Sam Austin, NEPC ... ACERA Betty Tse ... DECEMBER 31, ... 2025 QUARTERLY PERFORMANCE REPORT ... ALAMEDA COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION ... EXECUTIVE SUMMARY ... EXECUTIVE SUMMARY - NET RETURNS ... Alameda County Employees' Retirement Association December ... 31, ... | | | | | | Real Estate | 815,175,088 | | | 5.8 | | 8.2 | | -2.4

Annual Comprehensive Financial Report For the Fiscal Year Ended December 31, 2023 OCERS Pension, OPEB Trust Funds and Custodial Fund ... are considered a Component Unit of ... County of Orange ... Orange County Employees Retirement System ... ANNUAL COMPREHENSIVE FINANCIAL REPORT For the Year Ended December 31, 2023 ... Prepared by: The Finance Department of the Orange County Employees Retirement System ... OCERS – Annual Comprehensive Financial Report 2023 E ... Section 3: Investments ... Inves

Ms. Murphy gave context to the timeline for the day as well as noted the state of the OCERS portfolio. OCERS portfolio has risen to approximately 5.5% year to date after a strong market month in May. ... I-1 MEKETA 1Q 2024 PORTFOLIO EVALUATION REPORT Presentation by Laura Wirick, CFA, CAIA and Stephanie Sorg, CAIA, Meketa ... Presentation by Steve McCourt, ... , Meketa ... I-3 AKSIA 3Q 2023 PRIVATE EQUITY PERFORMANCE UPDATE Presentation by Trevor Jackson & Mike Krems, CFA, Aksia ... | R-4 | | PO

I-1 MEKETA 3Q 2024 PORTFOLIO EVALUATION REPORT Presentation by Laura Wirick, CFA, CAIA and Stephanie Sorg, CAIA, Meketa ... I-2 MEKETA 3Q 2024 PORTFOLIO RISK REPORT Presentation by Steve McCourt, CFA, Meketa ... I-3 AKSIA 2Q 2024 PRIVATE EQUITY PERFORMANCE UPDATE Presentation by Trevor Jackson & Mike Krems, CFA, Aksia ... Beeson, ... A-3 REAL ASSETS ANNUAL INVESTMENT PLAN Presentation by David Beeson, DI, OCERS; and Trevor Jackson & Nic DiLoretta, Aksia ... Recommendation: Approve the 2025 pacin

A-3 REAL ESTATE INVESTMENT PLAN ... Presentation by Rob Kochis, Felix Fels, &Haya Daawi, Townsend and Stina Walander- Sarkin, Investment Officer, OCERS Recommendation: Approve the annual OCERS’ real estate investment plan for 2024 including: 1. Commit up to $150 million in the core portfolio (0-2 investments) 2. Commit $150 - $225 million in the non-core portfolio (2-4 new investments at $50-75 million per fund) Orange County Employees Retirement System March 20, 2024 Investment Committee Meetin

I-7 TOWNSEND 3Q 2023 REAL ESTATE PERFORMANCE REVIEW Presentation by Rob Kochis, Felix Fels, & Haya Daawi, Townsend ... I-8 ASSET CLASS REVIEW - REAL ESTATE Presentation by Stina Walander-Sarkin, Investment Officer, OCERS ... A-3 REAL ESTATE INVESTMENT PLAN Presentation by Rob Kochis, Felix Fels, & Haya Daawi, Townsend and Stina Walander- Sarkin, Investment Officer, OCERS ... Recommendation: Approve the annual OCERS’ real estate investment plan for 2024 including: 1. Commit up to $150 million in

Ms. Murphy shared that as of mid-August year to date, the OCERS portfolio is at 7.5%, with a trailing 12 monthly period of 11.71%. Further, she noted that the Federal Reserve indicates easing in the near term, but many upcoming events, like the upcoming elections, can cause changes. At this time, markets are trending positive for the OCERS portfolio. ... I-1 MEKETA 2Q 2024 PORTFOLIO EVALUATION REPORT Presentation by Laura Wirick, CFA, CAIA, Meketa ... McCourt, ... , Meketa ... I-4 TOWNSEND 1Q 20

Background/Discussion The attached financial statements present the unaudited ... for the three months ended March 31, 2026. These statements are unaudited and are not the official financial statements of OCERS. They provide a summary ... . The official ... are presented in ... Annual Comprehensive Financial Report (ACFR) for the year ended December 31, 2025, which will be published on our website, www.ocers.org, following the completion ... the 20 ... 5 year-end audit in June 20 ... • The total

Beginning with December 31, 2023, this portfolio return is further adjusted to an expected geometric real rate of return for the portfolio.

OCERS' private equity portfolio gained 7.3% for the year. OCERS' real estate portfolio declined 4.0% in 2024.

I-2 MEKETA CAPITAL MARKET ASSUMPTIONS Presentation by Steve McCourt, CFA, Meketa I-3 MEKETA 4Q 2025 PORTFOLIO EVALUATION REPORT Presentation by Laura Wirick, CFA, CAIA, Meketa I-4 MEKETA 4Q 2025 PORTFOLIO RISK REPORT Presentation by Steve McCourt, CFA, Meketa Mr. Packard left the meeting at 11:02 a.m. I-5 AKSIA 3Q 2025 REAL ASSETS PERFORMANCE REVIEW Presentation by Kevin Bonse & Trevor Jackson, Aksia The Board recessed for break at 11:22 a.m. The Board reconvened from break at 11:34 a.m. Recordi

Orange County Employees Retirement System Trailing Net Performance | As of June 30, 2025 Fiscal Year Ends December 31. Inception (%) 3.91 (74) Over/Under 0.18

As Of March 2025 OCERS - Real Assets Portfolio Report Report created: October 2025 ... Orange County Employees Retirement System ... | Active | | Contributions Distributions NAV Currency Vintage Gain/Loss (mm) TVPI DPI RVPI IRR (mm) (mm) (mm) ployees Retirem | | --- | --- | --- | ... | Argo Capital Platform 2017 Bedrock Energy Partners Blackstone Infrastructure Partners DigitalBridge Partners II EnCap Energy Capital Fund XI EnCap Energy Capital Fund XII EnCap Energy Transiti

Data collection is for purposes of calculating investment level performance as well as aggregating and reporting client level total portfolio performance.

Orange County Employees Retirement Systems | Third Quarter 2025. Real Estate Performance Review ... reporting client level total portfolio performance

Investment Asset Allocation by Portfolio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . . 6 ... Section PERA AT A GLANCE As of July 31, 20 ... PERA investment portfolio Defined Contribution funds ... Other benefit receivables and liabilities ... increase ... ,81 ... 5 $25,64 ... ,817 ... 369 ... Investment Section INVESTMENT PORTFOLIO ... Cash & Short-Term: 0.3% Private Equity: 8.8% Real Estate: 11.1% Global Equity: 55.5% Alternatives: 6.3% Fixed

Results ... for the global equity and fixed ... Colorado PERA Capital Accumulation Plans ... Asset Distribution March 31, 2024 December 31, 2023 ... PERAdvantage Target Ret. Date Funds PERAdvantage Income Fund PERAdvantage 2025 Fund PERAdvantage 2030 Fund PERAdvantage 2035 Fund PERAdvantage 2040 Fund PERAdvantage 2045 Fund PERAdvantage 2050 Fund PERAdvantage 2055 Fund PERAdvantage 2060 Fund PERAdvantage 2065 Fund ... 3.90 ... 4.2 ... 3.67 ... 3.2 ... .53 ... .30 ... 812,312 4 ... 12,880,791

Evolve. Innovate. Invest. Annual Comprehensive Financial Report FOR THE YEAR ENDED DECEMBER 31, 2023 Public Employees’ Retirement Association of Colorado 2023 IN REVIEW ... Facts and Figures as of December 31,2023 ... Investment Portfolio Fair Value $61.5 billion (Defined Benefit Plans) ... Net Rate of Return ... 13.4% ... Members Actively ... Invested in Colorado-Based ... Partnerships, and Assets ... $788.9 million ... 30-Year Rate of Return ... 8.3% ... Annual Comprehensive Financial Report F

Trina Ruhland, Chair, called the ... at 10:41 a.m. Approval of Consent Agenda A motion was made by Marcus Pennell and seconded by Dave Young that, “The Investment Committee Consent Agenda be approved.” The motion was unanimously approved. Educational Session - Understanding Performance Katie Comstock, Aon, Partner – Public Sector Solutions and Daniel Van Breene, Aon, Investment Consultant presented various components of performance measurement for the board to consider when receiving reports. Th

▪ On a quarterly basis, Aon produces a detailed performance report that measures the performance of Colorado PERA’s Total Fund, underlying asset classes, and individual managers ... ▪ Performance reports serve ... Board of Trustees and Investment Committee in ... Statement of Investment Policy, ... and its underlying managers – Helps evaluate implementation in terms of asset allocation and manager selection – Provides various data points for ... Committee to make informed decisions ... ▪ The fol

a. November 20, 2025 Investment Committee Agenda b. October 29, 2025, Investment Committee Meeting Minutes (Tab A) c. Combined Investment Fund (CIF) Q3 2025 Performance (Tab B) d. Capital Accumulation Plans (CAP) Q3 2025 Performance (Tab C) ... Alternatives Asset Class Overview (Education) Amy C ... McGarrity, PERA Chief Investment Officer/Chief Operating Officer introduced the Alternative Assets Team, including Gary Ratliff, PERA Director of Alternatives; Aaron Houlihan, PERA Senior Portfolio M

Current PERA Portfolio Targets As of January 2025, the table represents PERA’s targets: ... Real Estate 10% 13% ... % 4% ... Reporting & Analysis ... → Thorough, transparent analysis and summary of all key information for each client delivered quarterly. → Client reports address the following areas: • Aggregate Fund Performance, Asset Allocation, Fund Structure, Current Topics. → Importantly, our primary goal is to produce digestible materials that effectively communicate the most important aspe

Capital Accumulation Plans Q42024 Performance Craig Chaikin, Callan Senior Vice President and Greg Ungerman, Callan Senior Vice President provided an update on the 4 th quarter 2024 CAP performance. Overall performance remains ... | Benchmark | Real Estate Custom Benchmark | | | --- | --- | --- | | | | | | Period | Weight | Incentive Award Scale | | 5 Year | 100% | 0-60 bp | ... 0 | | ... 0.48% | | | | 29,036,266 | | | 0.43 ... Aon’s quarterly performance reports measure the performance of Color

t is my pleasure to present to you the seventh edition of the Popular Annual Financial Report for the Maryland State Retirement and Pension System. In the following pages, you will find a con densed version of the lengthier—and more technical—Annual Comprehensive Finan cial Report. The PAFR presents the Sys tem’s financial activity for fiscal year 2023 in a concise format. It is a handy resource for anyone who wants to quickly review the status of the retirement fund. Former state employees, tea

t is my pleasure to present to you the seventh edition of the Popular Annual Financial Report for the Maryland State Retirement and Pension System. In the following pages, you will find a con densed version of the lengthier—and more technical—Annual Comprehensive Finan cial Report. The PAFR presents the Sys tem’s financial activity for fiscal year 2024 in a concise format. It is a handy resource for anyone who wants to quickly review the status of the retirement fund. Former state employees, tea

Performance Report December 31, 2022 ... & Performance → At ... end of the fourth ... , the System was valued at $62,917 million, an increase of $ ... ,566 million from the ... end of the third quarter. • The increase was ... result of positive ... performance and negative cash ... that totaled $352.9 million for the ... . → The System returned ... 3.1 ... , during the ... 22, outperforming the policy benchmark by 0.05%. ... absolute performance returning 14.2%. ... → On a relative basis, r

Performance Report March 31, 2023 ... Market Value & Performance → At the end of the first quarter, the System was valued at $64,365 million, an increase of $1,448 million from the end of the fourth quarter. • The increase was the result of positive investment performance despite net cash outflows that totaled $350.9 million for the quarter. → The System returned 2.9%, net of fees, during the first quarter of 2023, underperforming the policy benchmark by 0.1%. ... • All asset class returns

Performance Report December 31, 2023 ... Market Value & Performance → At the end of the fourth quarter, the System was valued at $66,441 million, an increase of $3,172 million from the end of the third quarter. • The increase was the result of positive investment performance, as net cash outflows totaled $184.4 million for the quarter. → The System returned 5.3%, net of fees, during the fourth quarter of 2023, slightly underperforming the policy benchmark by 0.03%. ... • Most asset class re

Performance Report September 30, 2024 ... • The increase was the result of positive investment performance, as net cash outflows totaled $815 million for the quarter. → The System returned 4.4%, net of fees, during the third quarter of 2024, underperforming the policy benchmark by 0.3%. • All asset class returns were positive for the quarter. • Multi-asset had the strongest absolute return, up 9.8% for the quarter, while real estate was the weakest performer in absolute terms, up 0.3%. → At