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Real Estate 17.4% ... Real Estate 1.4% ... Real Estate $32.9 ... Real Estate $32,562,316,562 18.9% 18.9% ... 8% Return Over Rolling 10 Years ... NCREIF (Lagged One Quarter) ... $32,562,316,562 18.9% 0.55% 1.00% 4.05% 10.05% 10.47% 10.33% ... 8.00% ... 0.9 ... % 0 ... % -0 ... 2% 3.13% 5 ... 01% ... Tangible Assets ... $50,26 ... ,01 ... ,370 ... $32,56 ... ,31 ... ,562 ... Real Estate Returns ... Qtr. 1 Year 3 Year 5 Year 10 Year ... Accident 2.05% 3.09% 4.22% 0.26% N/A ... Medical Aid 2.09% 3.1

Legacy Private Equity 2005 174.3 17.0 162.8 235.5 12.8 1.52 7.6 7.0 NB Fund of One 2017 399.2 78.3 257.6 86.3 398.8 1.88 16.0 11.7 Private Debt 2010 352.1 66.9 365.8 341.5 116.6 1.25 6.5 6.3 Real Estate 2005 317.7 57.2 294.9 232.0 140.5 1.26 6.1 7.6 Real Assets 2016 155.3 50.1 114.5 65.9 91.5 1.37 11.8 5.5 Venture Capital 2021 112.8 56.4 56.5 1.2 59.5 1.07 4.2 11.4 Total 1,511.4 325.9 1,252.2 962.3 819.7 1.42 8.5 NA ... As of September 30, 2025, the Retirement System had committed $155.3 million

(1) OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE COMMITTEE ON ITEMS OF INTEREST TO PUBLIC THAT ARE WITHIN ... SUBJECT MATTER JURISDICTION OF THE COMMITTEE. (SPEAKERS MAY BE LIMITED IN SPEAKING TIME DEPENDENT UPON THE PRESS OF BUSINESS AND NUMBER OF PERSONS WISHING TO ADDRESS THE COMMITTEE.) (2) REVIEW OF THE MINUTES OF THE FEBRUARY 12, 2019 INVESTMENT COMMITTEE MEETING (3) APPROVAL OF THE TRUST FUNDS INVESTMENT POLICY (4) MARKET ENVIRONMENT UPDATE (5) REVIEW OF THE INVESTMENT PLAN (6) UPDATE OFBROK

Review of Real Estate performance and pacing recommendation ... Whalen reviewed CCCERA’s private real estate performance and pacing recommendations. ... Wasnock reviewed the current environment, potential risks, and outlook of the private real estate strategies within CCCERA’s private real estate portfolio. ... | | Real Estate - Value Add | | 202,263,464 | | 1.8% | | 4.0% | | -2.2% | | | 5.0% | | -3.2% | | | | ... | | Real Estate - Opportunistic & Distressed | | 406,681,132 | | 3.5%

Contra Costa County Employees’ Retirement Association Liquidity Report – August 2025 August 2025 Performance Cash Flow Coverage Ratio Benefit Cash Flow Projected by Model $54,500,000 Liquidity Sub-Portfolio Cash Flow $54,500,000 100% Actual Benefits Paid $55,791,793 97.7% Next Month’s Projected Benefit Payment $55,250,000 Monthly Manager Positioning – August 2025 ... DFA $480,479,554 ($12,250,000) $2,284,570 $470,514,124 Insight $773,392,068 ($20,250,000) $5,824,955 $758,967,023 Sit $550,531,431

6.7 ... 5.4% ... | REAL ESTATE 9.8 ... | VALUE-ADDED FIXED ... 5.0% | PCS 5 ... 4.8 ... 5.4 ... | TIMBER 4 ... | TIMBER 4.7 ... | TIMBER ... 2.4% | CORE ... 3.8% ... PCS 4 ... Source: BNY Mellon. Returns as of March 31, 2021 III. Performance Review and Market Summary Timothy V. Schlitzer, CFA, CRE, Director of Real Estate updated the Committee on performance and markets. Real Estate The real estate portfolio ended the period at 8.3% of the PRIT Fund, below the 10% mid-point. The ending net asset

Real Estate 5.50% ... .50% 2 ... 13 ... • Geographic Diversification within ... Portfolio: Consistent with one of the 2013 initiatives, ... number of new investments were made in 2 ... 13 that improved the portfolio's geographic diversification. Examples include: ... • Real Estate: Blackstone Real Estate Asia, Perella Weinberg Real Estate II, M&G Real Estate Debt Funds, Prologis • Private Equity: CVC Capital, Siguler Guff/NJ Developing Markets • Hedge Funds: Iguazu ... • Real Estate Secondary Sa

including strategies that ... | 4.3 | WPP will engage with its service providers to ensure that a common mechanism for monitoring and understanding climate related exposures, including risks and solutions, can be developed in respect of all WPP assets. Through this, WPP aims to provide support to Constituent Authorities in developing and implementing their own climate-management policies. | The WPP continues to monitor climate exposure through quarterly climate & ESG risk deep-dives into WPP’s a

As of 31 March 2026, the pool has increased its proportion of assets under pool management to 82%, with the first Real Estate investment programmes being launched during the year. ... , the first WPP Private ... The table below shows the performance of the equity and fixed income sub-funds over the last 12 months. All markets provided positive returns over the year; however, apart from the Emerging Markets sub-fund, the sub-funds were behind benchmark or target. The OWG and JGC receive quarterly

SURS investment portfolio produced strong results in FY 2021. For the fiscal year ending June 30, the portfolio returned 23.8%, net of fees, increasing the defined benefit plan assets to $23.8 billion. As of June 10, SURS received its full state appropriation of $1,995,767,000 for FY 2021. ... Fiscal year 2021 brought meaningful change to the SURS defined contribution plans. Highlights included the redesign and launch of the SURS Retirement Savings Plan (RSP) and the introduction of the new supp

INVESTMENT PORTFOLIO PERFORMANCE September 30, 2023 (Reported in Percentage and Gross of Investment Management Fees) FY 2023 FY 2022 FY 2021 FY 2020 FY 2019 FY 2018 3- ... 5-Year Avg. Operating Fund (All Fixed Income) * 3.42 -5.23 1.01 4.11 5.54 0.70 -0.33 1.70 Policy Benchmark (Weighted Avg Benchmark) ** 2.41 -7.79 -0.16 4.54 6.36 -0.06 -1.95 0.95 Core Plus 1.87 -13.72 1.76 7.30 10.15 -0.03 -3.65 1.12 Intermediate 2.69 -9.67 0.30 7.26 8.14 -0.46 -2.38 1.53 Limited Duration 3.22 -4.35 0.71 4.14

HARTFORD, Connecticut – On Wednesday afternoon, Connecticut’s Investment Advisory Council (IAC) convened their first meeting of 2024 at the State Office Building in Hartford. State Treasurer Erick Russell opened the meeting by announcing more than $1.1 billion in investment commitments in the private credit and real estate portfolios of the Connecticut Retirement Plans and Trust Funds (CRPTF). In private credit, the Treasurer committed $125 million to ICG North America Credit Partners Fund III L

Performance Indicators ... Performance Indicators ... | Indicator | FY 2023 Actual | FY 2024 Actual | FY 2025 Estimate | FY 2025 Actual | FY 2026 Estimate | FY 2027 Estimate | | --- | --- | --- | --- | --- | --- | --- | | Output | | | | | | | | Annual Return on Liquidity Portfolio | 3.97% | 5.26% | 2.00% | 4.80% | 3.96% | 3.27% | | Annual Return on Extended Maturity Portfolio | 1.79% | 2.92% | 3.00% | 3.91% | 3.68% | 3.60% ... | Efficiency | | | | | | | | Work years per 100 investment tr

Q4 Private Real Return Performance ... PRR Portfolio Highlights – December 31, 2024 • Quarterly net value gains of $3.0M during Q4, continuing strong performance from prior 15 quarters • Since inception IRR decreased 44 basis point from the prior quarter • The Portfolio outperformed its designated benchmark, CPI-U + 400 bps, by 471 bps on a since ... Portfolio Snapshot ... Q4 2024: Solid value creation of Portfolio ... • Net value gains of $3.0M • Portfolio distributions of $27.4M in Q4

For Institutional Investor use only. Proprietary & Confidential. Second Quarter 2020 Real Estate Performance Update ... Santa Barbara County Employees’ Retirement System October 28, 2020 ... Table of Contents ... 3 Real Estate Market Update 13 Second Quarter 2020 Real Estate Performance 25 Portfolio Summary 27 Detailed Portfolio Summary for the Period Ending June 30, 2020 ... • Total real estate transaction volume decreased approximately 29.5% in the first half of 2020 compared to the first half

202 ... ▪ As part of the implementation series discussions, we have put together a structure review for the Absolute Return portfolio ▪ The Absolute Return portfolio has a strategic asset allocation target of 6.5 ... ‒ The allocation resides within the Volatility Protection category (15% target) which is part of the broader Stability sleeve (33% target) ▪ Long-term results for the portfolio have been impressive ... digit returns (net of fees ... , and a high Sharpe Ratio ... There are modest dra

shared there will not be an Investment ... Meeting in December. Real Estate Quarterly Review Ed Schwartz provided a summary of the Real Estate Portfolio as of June 30, 2022. Ed answered questions from the Trustees. ... Portfolio weights for most asset classes remain near MainePERS Investment Policy asset allocation weights. Private equity remains overweight at ~20% of Fund value, ... assets in aggregate comprise 55% of ... overall portfolio, above the 47.5% policy weight. ... MainePERS Portfolio

Los Angeles County Employees Retirement Association Investments Division ... TOTAL FUND PERFORMANCE REPORT For the quarter ended December 31, 2021 ... Los Angeles County Employees Retirement Association ... Los Angeles County Employees Retirement Association ... Quarterly Snapshot Los Angeles County Employees Retirement Association for the quarter ended December 31, 2021 ... Los Angeles County Employees Retirement Association for the ... Los Angeles County Employees Retirement ... 60/40 Portfoli

ments Our steadfast ... approach to challenges, activities and strategies. ... values are crucial as investment markets continue to be increasingly complex and challenging. Since investment returns provide approximately two-thirds of the funding for a retiree’s ultimate pension, market volatility necessitates our adherence to the proven principles of asset allocation and diversification, both of which are regularly reviewed, to produce stable market outcomes. During 2024, OPERS completed asset-l

a second by ... , as well as minutes of the ... 6, andMarch 18, 20 ... 6, annual retreat. Mr. Leighty abstained from voting in this matter ... , Mr. Andrews advised that, in accordance with the Governance Policy, the Board needed to updateits committee assignments. Following a motion by Dr. Gooden, with a second by Mr. Foster, the Board unanimously approved theproposed committee assignments. Report of the Investment Advisory Committee Lawrence Kochard, Chair of the Investment Advisory Committee

It is important to note that by investing in the VRSIP you are not investing in a defined benefit pension plan. Investing in the VRSIP does not provide you with the opportunity to purchase additional DB plan service credit or increase your monthly DB pension benefit. Like other core investment options, participants investing in the VRSIP are subject to investment risks, including loss of principal and earnings. The VRSIP is a diversified portfolio that invests in numerous asset classes. Because

Mr. Junkin presented an update on the Asset Allocation and Leverage project. Mr. Junkin reported on the implementation progress, launched in January 2024 at ~1%. Based on cash needs, the VRS portfolio is using less leverage than the policy portfolio and will continue to explore additional sources of funding. A motion was made by Mr. Disharoon and seconded by Mr. Bernert to recommend the Request for Board Action to approve FY2025 Defined Benefit Plan Strategic Asset Allocation. The motion was una

Mr. Junkin began his report with a market overview. Mr. Junkin then discussed the total fund performance and asset allocation. Last, Mr. Junkin reviewed the New Investments and Terminations Report. ... Mr. Howell discussed the agenda for the private assets program reviews and provided a general overview of Private Equity, Credit Strategies, Private Investment Partnerships, and Real Assets. ... Mr. Noland provided a review of the Real Assets program. Review topics included an overview ofthe team

Subject: Receive General Consultant Semi-Annual Performance Report, Period Ending December 31, 2024 Presenter(s): Meketa Investment Group Item type: Information Date and time: March 12, 2025 – 45 minutes Attachment(s): Attachment 1 – Investment Performance At-A-Glance, Period Ending December 31, 2024 Attachment 2 – Summary of the Semi-Annual Performance Report, Period Ending December 31, 2024 PowerPoint presentation(s): PowerPoint 1 – Semi-Annual General Consulting Executive Summary (Open Sessio

The CalSTRS Total Portfolio had an aggregate value of $341.4 billion as of June 30, 2024. During the latest six-month period, the Total Portfolio increased by $14.4 billion (net of fees and contributions/benefits). Over the latest one-year period, the Total Portfolio increased by $25.8 billion (net of fees and contributions/benefits). Asset Allocation Trends During the latest six-month period, the Real Estate and Cash allocations each decreased by (1%), and the Global Equity and Fixed Income all

Murray, seconded by Ms. Drucker that the IAC Asset Allocation Committee enter Executive ... Session to discuss the Connecticut Retirement Plans and Trust Funds 2026 Strategic Asset ... Allocation. The motion passed unanimously. Harry Arora, Investment Advisory Council

Payroll 35,511,275 38,723,767 38,723,767 38,723,767 0 ... Retiree Premiums 44,493,326 46,855,585 46,855,585 46,855,585 0 ... | | Benefits Paid1 | | | | $216,266,2 ... 6 | | | $213,905,580 | | $213,9 ... 5,580 | | | $22 ... ,81 ... ,883 | | | | $ ... ,91 ... ,303 ... Benefits Paid1 $2 ... ,276 $213,905,580 $213,905,580 $223,818,883 $9,913,303 ... 0 ... 7,0 ... ) ... Total Expenditures $ ... 0,817 $2 ... 7,59 ... ,021 $2 ... ,021 $6,300,000 ... Ending Balance:3 Fund Equity $75,878,193 $46,061,901

,626,579 19,858,784,033 RETIREMENT FUND PORTFOLIO PERFORMANCE (Fiscal Year Ended June 30, 2023) ... Asset Class vs. Benchmarks 1YR 3YR 5YR (%) (%) (%) Total Retirement Fund 7.67 8.95 7.41 Policy Benchmark 7.87 7.82 6.80 Domestic Equity 18.99 13.11 11.11 Russell 3000 18.95 13.89 11.39 International Equity 13.80 7.11 4.55 MSCI ACWI ex-US IMI ND Index 12.47 7.33 3.38 ... Global Equity 2 17.63 N/A N/A MS AC Wld Idx IMI Nt 16.14 N/A N/A Fixed Income 2.46 -1.05 1.77 Fixed Income Blend 1.94 -1.88 1.27

Portfolio Snapshot ... • Net value increased $4 ... Distributions of $8.5M ... • ... 0.69% • Total Market value ... | | Portfolio Snapshot | | | ... --- | --- | --- | ... (USD in Millions ... x | - ... 7.0 years | ... 7.3 years | ... • Generated gains in three of the prior four quarters • Portfolio generated cash return of $74.4M during one-year period • Net value increase of $13.5M over the one-year period • One-year IRR of 2.33% Quarterly Portfolio Summary Quarter Ending Year Ended (USD i

1.3. Market Update and November 30, 2024 Performance Review Receive and file the report on World Market Activities and November 30, 2024 performance. ... 3.1. Monthly Investment Performance Analysis Period Ended December 31, 2024 10:05 AM Presenter: RVK, Inc. Presentation by Principals Marcia Beard and Matthias Bauer of RVK, Inc. on World Market Activities and December 31, 2024 performance. DISCUSSION RECOMMENDATION: That the Board of Retirement receive and file the Monthly Investment Performanc

performance summary update – city & county of Denver ... Asset Class Investment Name YTD Rank 1 Year Rank 3 Year Rank 5 Year Rank 10 Year Rank ... Median Expense ... Target-Date Retire Vanguard Target Retire Inc Fund 10.74 43 10.74 43 0.56 41 4.83 43 4.09 28 0.08 0.13 ... Target-Date 2020 Vanguard Target Retire 2020 Fund 12.51 41 12.51 41 1.47 48 6.61 40 5.52 24 0.08 0.09 ... Target-Date 2025 Vanguard Target Retire 2025 Fund 14.55 11 14.5 ... 11 2.03 30 7.56 27 ... .10 13 0.08 0.09 ... .03

30, ... Public School Teachers Pension & ... Retirement Fund of Chicago ... Private Equity Performance Report ... Investment Measurement Service ... Quarterly Review ... 30, 2021 ... Portfolio Profile and Financial Performance2 ... Portfolio Diversification ... Individual Manager Diversification Table4 ... Manager Vehicle-Level Performance9 ... 30

Nebraska Investment Council First Quarter 2021 Real Estate Performance Review ... Real Estate Markets Performance and Overview ... As of 3/31/2021 ... | Performance Summary | Quarter (%) 1 Year (%) 3 Year (%) 5 Year (%) | | --- | --- | | NFI-ODCE Value Weight NCREIF Property Index "NPI" | TGRS TNET TGRS TNET TGRS TNET TGRS TNET 2.1 1.9 2.3 1.5 4.9 4.0 6.2 5.3 1.7 2.6 4.9 5.8 | ...  The NFI-ODCE trailing one-year return now stands at 1.5% net. Due to moderation in the real estate market, a

How to read this report This annual report describes the strategy, performance and governance of Canada Pension Plan Investment Board (CPP Investments™) for the fiscal year ended March 31, 2025. The Strategy section includes a description of our purpose, how we ... invest and govern the Fund as well as how we pay for performance. The report then describes our performance in the Management’s Discussion and Analysis section, attributing our results to various investment and operational activities

The value of the Pension Fund’s net assets increased by £32.0m during 2024/25 financial year, from £ ... .0m at 3 ... March 2024 to £1,364.0m at 31 March ... 2025. This increase was primarily driven by posiƟve investment returns, parƟcularly from the Fund’s UK and Overseas equity mandates. AnalyƟcal Review of the Fund Account Fund Account ... 23 2 ... 4 2 ... £m £m £m ... with Members Cont ... past three years, total benefits paid have exceeded contribuƟons received by £18.5m, reflecƟng the Fund

Cheiron has completed the Actuarial Valuation Report for the Maine Public Employees Retirement System (MainePERS or System) State Employee and Teacher Program (Program) of the as of June 30, 2021. The purpose of this report is to: 1) Measure and disclose, as of the valuation date, the financial condition of the Program, 2) Examine trends, both historical and prospective, in the condition of the Program, 3) Assess and disclose actuarial risks of the Program, 4) Report on the contribution rates de

Program Inception: 2003 HL Relationship Inception: 2007 Real Assets Strategies: Real Estate Natural Resources Plan Size (as of 12/31/2021): $16.675 billion Target / Current Allocation: Real Estate – 8.0% / 7.3% Natural Resources – 5.0% / 4.8% Real Estate Benchmark: NCREIF Property Index Natural Resources Benchmark: Consumer Price Index + 4% (CPI-U) ... Active Partnerships 61 69 8 Inactive Partnerships 6 6 -Active GP Relationships 30 31 1 Capital Committed $2,797.3 $3,456.8 $659.5 Unfunded Commit

Executive Summary: The role of Absolute Return is to enhance the risk-adjusted returns of the Plan through exposure to sources of return that differ meaningfully from traditional equity, fixed income, and private markets. Absolute Return serves as a secondary source of liquidity for beneficiary payments and capital calls. As of March 31, 2025, SFERS’ allocation to Absolute Return stood at $3.6 Billion representing 10.0% of the SFERS Total Plan. For the twelve months ended March 31, 2025, Absolut

To: Retirement Board Through: Alison Romano CEO & CIO From: Dennis Esselsagoe Kevin Cao Investment Officer Investment Officer Date: April 20, 2023 Re: Plan Value Report Best available data as of March 31, 2023 Value 1,3 Weight MTD QTD CYTD FYTD (000) (%) (%) (%) (%) (%) SFERS TOTAL FUND 33,211,223 100.0 1.09 3.05 3.05 1.96 Public Equity 10,469,683 31.5 2.19 8.34 8.34 9.44 Private Equity 10,034,547 30.2 0.46 0.17 0.17 (7.40) GROWTH ASSETS 20,504,230 61.7 Real Assets 5,145,472 15.5 0.03 (0.98) (0.

Fiscal year 2024 carried forward with many similar themes from the prior year – sustained inflation, higher but stable short-term interest rates and growing geopolitical issues. In the U.S., the Federal Reserve has a dual mandate to promote maximum employment and stable prices. During the fiscal year, inflation was notably lower than 2023 but hovered between 3% and 3.7%, above the Federal Reserve’s stated goal of 2%. However, as inflation moderated, the unemployment rate slowly climbed from 3.5%

a second by ... , as well as minutes of the ... 6, andMarch 18, 20 ... 6, annual retreat. Mr. Leighty abstained from voting in this matter ... , Mr. Andrews advised that, in accordance with the Governance Policy, the Board needed to updateits committee assignments. Following a motion by Dr. Gooden, with a second by Mr. Foster, the Board unanimously approved theproposed committee assignments. Report of the Investment Advisory Committee Lawrence Kochard, Chair of the Investment Advisory Committee

Mr. Junkin began his report with a market overview. Mr. Junkin then discussed the total fund performance and asset allocation. Last, Mr. Junkin reviewed the New Investments and Terminations Report. ... Portfolio Solutions Group Review ... Mr. Ma explained the scenario analysis discussion will be moved up in the agenda so there will be ample time for the IAC to opine on this topic. Mr. Ma provided a review of the Portfolio Solutions Group. Review topics included an overview of the program, the te