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, the Fairfax ... County Housing and Redevelopment ... , the Retirement Administration ... the Economic Development ... Net Position For the Total Primary Government, assets and deferred outflow of resources exceeded liabilities and deferred inflow of resources by $2,036.6 million for FY 2024, representing an increase of $292.1 million in the net position over FY 2023. The increase in fiscal year 2024 net position was mainly due to increases in current and other assets, capital assets and deferr

Capital Markets and Economic Conditions In fiscal year 2023, the System returned +9.11%, gross of fees (+8.07%, net of fees), ranking in the 33rd percentile of all public funds in the BNY Mellon Total Public Fund Universe. For the three- and five-year periods (annualized), the System returned gross of fees, +8.38%, (+7.23%, net of fees), ranking in the 57th percentile, and +5.92%, (+4.94%, net of fees), ranking in the 77th percentile. For the longer ten-year period, the System had a gross of fee

Wilshire ... Representatives David Lindberg, Shawn Quinn, and Maddy Osadjan, discussed ... following with the Committee: ... Executive Summary of Investment Performance – June 30, 2024 Quarterly Market Review • Asset Class Performance • Actual Allocation vs. Policy Allocation • Composite Performance Summary • Plan Sponsor Peer Group Analysis • Plan Sponsor Peer Group Analysis – Multi Statistics Plan Sponsor Scattergram Total Fund Attribution Asset Allocation and Performance Focus List Performa

Net Position For the Total Primary Government, assets and deferred outflow of resources exceeded liabilities and deferred inflow of resources by $1,335.6 million for FY 2022, representing an increase of $450.8 million in the net position over FY 2021. The increase in fiscal year 2022 net position was mainly due to increases in current and other assets, capital assets and decrease in long-term liabilities offset by increases in deferred tax revenue and deferred inflows related to pension. Total r

| %97.21 %86.94 %72.03 %00.8 | 795,003,559,3$ 94 3,412,924,3$ 095,383,72$ 67 2,2$ 543,038,04$ 98 4,618,2$ 529, 298,11$ 22 8,272,52$ | 42 3,622,275,4$ 69 7,163,659,5$ oiloftroP latoT 863,208,41$ 00 0,057,65$ PL ,III dnuF piTiH droffatS latoT 378,115,12$ 00 0,570,13$ PL ,II dnuF piTiH droffatS latoT 938,451,42$ 00 0,052,52$ PL ,I dnuF p iTiH droffatS latoT | | --- | --- | --- | | | | | | %50.9 %55.41 | - 981,854,075$ 737,391,578,3$ 375,466,038,2$ | 808,417,563$ 58 6,342,473$ o iloftroP detadiuqiL

The value of the San Jose Federated City Employees’ Retirement System assets on September 30, 2025 was $3.61 billion, up from the end of the prior quarter ($3.46 billion). The System had net cash outflows of $4.6 million and $154.6 million in investment gains during the quarter. ... → The System’s net of fees performance for the quarter was +4.5%, compared to the Policy Benchmark return of +5.1% and the Investable Benchmark Portfolio return of +5.0%. The peer median return was +4.3%. The Plan ra

San Jose Federated ... Employees’ Retirement System ... Aggregate Plan Overview ... The value of the San Jose Federated City Employees’ Retirement System assets on June 30, 2025 was $3.46 billion, up from the end of the prior quarter ($3.25 billion). The System had net cash inflows of $2.9 million and $202.6 million in investment gains during the quarter. ... → The System’s net of fees performance for the quarter was +6.2%, compared to the Policy Benchmark return of +6.7% and the Investable

LOS ANGELES DEPARTMENT OF WATER AND POWER EMPLOYEES' RETIREMENT PLAN REAL ESTATE PORTFOLIO PERFORMANCE MEASUREMENT REPORT Second Quarter 2010 COURTLAND PARTNERS, LTD. ... November 2010 ... Los Angeles Department of Water and Power Employees' Retirement Plan Second Quarter 2010 1 2 3 4 5 6 7 8 9 10 14 1 ... SUMMARY Los Angeles Department of Water and Power Employees' Retirement Plan PORTFOLIO SUMMARY (for period ended June 30, 2010) ... | Current Portfolio Market Value: | $ 94,284,905

the Monthly Investment Review ... MONTHLY INVESTMENT REVIEW: HIGHLIGHTS AND OBSERVATIONS Preliminary Fund results for the month include: ... • Month-end fund value of $20.1 billion. • Monthly return of -0.9%. • Calendar year-to-date return of 6.8%. • Fiscal year-to-date return of 2.2%. ... % of Fund Policy % MainePERS Portfolio $ 20,060 100.0% 100.0% Portfolio weights for most asset classes remain near Domestic Equity $ 3,885 19.4% 20.0% MainePERS Investment Policy asset allocation Internati

9:15 – 9:30 a.m. 3. QUARTERLY PORTFOLIO REVIEW Brian McDonnell, Cambridge Associates ... 9:30 – 10:05 a.m. 4. QUARTERLY ASSET CLASS REVIEWS ... • Alternative Credit, Private Equity, Real Assets • Risk Diversifiers William Greenwood, Albourne; Brian McDonnell, Cambridge Associates ... BREAK INVESTMENT REPORTS • Investment Monthly Report • Quarterly Rebalancing Report o Public Equity Rebalancing • RHIT/GLI/OPEB Quarterly Report James Bnnett Scott Lupkas Brian McDonnell, Cambridge Associates James

ENDMENT TO BOARD POLICY 2.1 (IPS) • Proposed IPS Changes – Redline • Asset Allocation Review and Asset Liability Study Report INVESTMENT REVIEW • Investment Monthly Review • Quarterly Rebalancing Report • RHIT/GLI/OPEB Quarterly Review • Investment Quarterly Review PRIVATE MARKETS REVIEW • Private Market Consultant Review • Private Markets Activity • Albourne Quarterly Review • Cliffwater Quarterly Review ... McDonnell, Cambridge ... Investment Monthly Review Jim Bennett reported that as of Sept

Investment Monthly Review Jim Bennett ... that as of ... 30, ... , the Maine ... fund had a preliminary ... market value of $21.9 billion, the preliminary return for the month was ... 0.5%, and the preliminary ... year-to- ... 10.3%. ... RHIT/GLI/OPEB Quarterly Report ... Jim Bennett ... RHIT/GLI/OPEB Quarterly Review ... of September 30 ... noted that ... benchmark discrepancy had been identified and shared that he would provide additional details at a future meeting. He then answered questions

Total Fund Performance Review for period ending June 30, 2024 • Asset Class Review: Real Asset for period ending June 30, 2024 • Annual Benchmarking Review • Annual Plan Liquidity Target Review • Annual Investment Policy Statement Review ... 2. Rotating ... Asset Class Review: ... – Real Assets for period ending June 3 ... , 2024 Ian Wetzel, ERS Investment Officer and Townsend Group. Pursuant to HRS § 88-27.5(a)(1), 92-5(a)(4) and (8), the Board of Trustees may enter into Executive Sessi

Surplus Funds Trust Fund (Trust Fund or Fund) is a pooled investment fund ... .405, Florida ... , and administered by the State Board of Administration ( ... 8.403(9 ... of internal controls ... covered trades with a broker dealer, ... feed. The ... is a list of brokers with ... of Covered Securities. This ... list have been reviewed and approved for ... trading by the Chief Risk & Compliance Officer and those brokers have agreed to provide electronic trade confirmations and account statements t

Executive Director / Chief Investment Officer Report A. Markets and PRIT Fund Performance Summary Michael G. Trotsky, CFA, Executive Director, and Chief Investment Officer, made comments to the Committee, including: Mr. Trotsky began by highlighting the December 31, 2025, results - the second quarter of fiscal year 2026. The financial markets remained strong through the end of the year and into 2026, and the PRIT Fund ended with another record balance of $123.3 billion, surpassing the previo

The table below displays trailing time period IRRs for the Pennsylvania State Employees’ Retirement System (“PA SERS”) Real Estate Portfolio as of December 31, 2025 along with select benchmarks ... ‒ The NCREIF Expanded Property Index, a benchmark of unlevered core real estate returns ‒ The C|A Non-Core Real Estate Index consists of non-core (value-add and opportunistic) closed-end real estate funds  The total real estate portfolio has generated a total net return of -0.2% for calendar year

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Our investment team is unique in Scotland in holding FCA authorisation. We manage over 85% of assets in-house investing in infrastructure, property and timberland in the private market portfolios as well as listed equity and bond portfolios. ... Global Real Estate Sustainability Benchmark (GRESB) data in the infrastructure and real estate asset classes is tracked and incorporated into reporting in these areas. ... 2021/2 ... | --- | --- | --- | ... Standard (CSE ... Unqualified Not yet opinion .

at end March ... funded at our last valuation in ... We manage over 85% of assets in-house investing in infrastructure, property and timberland in the private market portfolios as well as listed equity and bond portfolios. ... Global Real Estate Sustainability Benchmark (GRESB) data in the infrastructure and real estate asset classes is tracked and incorporated into reporting in these areas.

Private Equity Performance Review Third Quarter 2018 ... The following report presents an analysis of the New Mexico ERB Private Equity Portfolio and its performance for the third quarter of 2018. All data is as of September 30, 2018. The New Mexico ERB Private Equity Portfolio experienced a positive third quarter return of 5.01% and a one-year return of 16.33%. The Private Equity Portfolio has achieved a since-inception return of 13.35% and multiple on invested capital of 1.45x. As of the

Q1report ... New Mexico Educational Retirement Board Infrastructure ... The following report presents a summary of the portfolio composition and returns for the infrastructure investment portfolio (“Portfolio”) of the New Mexico Educational Retirement Board (“NMERB”). The Portfolio was established in July 2008. All data presented below are as of March 31, 2025. ... TOTAL PORTFOLIO ... 212 ... 752 ... Portfolio Cash Flows and ... TOTAL 1,132.2 487.9 244.6 138.5 871.0 457.2 718.4 64.3

Q3 report ... New Mexico Educational Retirement Board Infrastructure Program ... The following report presents a summary of the portfolio composition and returns for the infrastructure investment portfolio (“Portfolio”) of the New Mexico Educational Retirement Board (“NMERB”). The Portfolio was established in July 2008. All data presented below is as of September 30, 2025. ... Portfolio Cash Flows and ... 1,194.0 503.7 243.2 143.2 890.1 486.0 789.9 67.9 21.0 88.9 Summary Of Per

New Mexico Educational Retirement Board December 31, 2022 Quarterly Investment Report ... Program Inception: ... 2003 ... Inception: ... 20 ... Real Assets Strategies: Real Estate Natural Resources Plan Size (as of 12/31/2022): $15.318 billion Target / Current Allocation: Real Estate – 8.0% / 7.7% Natural Resources – 5.0% / 5.6% Real Estate Benchmark: NCREIF Property Index Natural Resources Benchmark: Consumer Price Index + 4% (CPI-U) ... represent both active ... 12/3 ... 12/31/2 ... 22 Cha

MANAGEMENT AND PERFORMANCE ... Financial Performance – analytical review ... The following table identifies movements in ... fund account based on expenditure between 31 March 2022 and 31 March 2024 and provides reasons for variances. The full financial statements are within section 10 – Statement of accounts of this document. ... Table B – fund assets performance ... Returns on investments 31-Mar-24 31-Mar-23 Variance Notes on significant variances ... Investment income 571,926 498,917 73,009 I

Alameda County Employees’ Retirement Association BOARD OF RETIREMENT INVESTMENT COMMITTEE/BOARD MEETING ACERA MISSION: To provide ACERA members and employers with flexible, cost-effective, participant-oriented benefits through prudent investment management and superior member services. Wednesday, June 5, 2024 10:30 a.m. | LOCATION AND

R-10 FOURTH QUARTER 2025 BUDGET VS. ACTUALS REPORT Written Report ... R-11 FOURTH QUARTER UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2025 Written Report ... CIO COMMENTS- David Beeson, Director of Investments, shared that as a result of the war in Iran causing volatility to the markets, OCERS’ portfolio was estimated to be down 2.0% in March through Friday, March 13th. This brings the year-to-date performance for OCERS to -0.2% as of March 13th. It is still too early to know

INFORMATION ITEMS ... IO RISK REPORT Presentation by Laura Wirick, CFA, CAIA, Meketa ... I-2 ... INFORMATION ITEMS Each of the following informational items will be presented to the Board for discussion. Presentations I-1 MEKETA 2Q 2025 PORTFOLIO EVALUATION REPORT Presentation by Steve McCourt, CFA & Laura Wirick, CFA, CAIA, Meketa I-2 MEKETA 2Q 2025 PORTFOLIO RISK REPORT Presentation by Steve McCourt, CFA & Laura Wirick, CFA, CAIA, Meketa I-3 AKSIA 4Q 2024 REAL ASSETS PERFORMANCE UPDATE Present

CIO COMMENTS Ms. Murphy reminded the Committee that while much has happened in the last months since the Investment Committee Meeting in March, the Investments Team did anticipate market adjustments and had already reset allocations to original targets in January of 2025. Over the last several months, the administrations policies and potential tariffs have been a major factor for the April volatility and May slight rebound. Currently, the OCERS portfolio is reporting a 3% increase year to date.

I- ... Q 20 ... Presentation by Steve ... , CFA, ... I-5 AKSIA 3Q 2024 REAL ASSETS PERFORMANCE REVIEW Presentation by Nic DiLoretta & Trevor Jackson, Aksia I-6 TOWNSEND 3Q 2024 REAL ESTATE PERFORMANCE REVIEW Presentation by Haya Daawi, Felix Fels & Rob Kochis, Townsend Group I-7 ASSET CLASS REVIEW - REAL ESTATE Presentation by Stina Walander-Sarkin, IO & Emma Ji, CFA, SIA, OCERS Orange County Employees Retirement System March 7, 2025 Investment Committee Meeting – Minutes Page 3 ACTION ITEMS

Capital Accumulation Plans Fourth Quarter Janet Becker-Wold, Callan LLC, Senior Vice President and Craig Chaikin, Callan LLC, Senior Vice President provided an update on the 4th quarter 2023 CAP performance. Overall performance remains very strong across the PERAdvantage lineup. ... Alternatives Asset Class Overview Gary Ratliff, PERA Director of Alternatives; Aaron Houlihan, PERA Senior Portfolio Manager; and Tom Meirink, PERA Senior Portfolio Manager walked us through their asset class – how i

61 ... Portfolio Securities Summary 62 ... Investment Results 63 ... Real Assets 74 ... At the end of FY20, TRS held ... in investment assets, ... The TRS investment portfolio returned 0.6 percent, net of fees, for the fiscal year ended June 30, 2020. Total investment assets decreased approximately $1.4 billion during the year. The TRS trust fund is invested under the authority of the Illinois Pension Code and follows the “prudent person ... exclusive interest of ... The Investment Section of th

Real Estate 1,813,124,883 79,607,871 1,892,732,754 - ... Real Assets 1 ... 9,349,006 ... ,02 ... 89,373,772 ... INVESTMENT PORTFOLIO ... The OP&F Board and Investment Department staff believe that a well-diversified portfolio will serve OP&F well over the long term. The Board’s adoption of risk parity at the asset allocation level in 2010 and their ongoing reaffirmation and implementation of that approach demonstrate that OP&F is committed to creating and maintaining a well-diversified portfo

New York State Teachers’ Retirement System April 24, 2025 Board Meeting Summary of Actions ... Renewed the agreement with Adelante Capital Management LLC to manage a portion of the System’s portfolio by actively investing in securities of real estate investment trusts (REITs) and real estate operating companies (REOCs), for one year, effective July 1, 2025. Renewed the agreement with Goldman Sachs Asset Management LP to manage a portion of the System’s assets as an active India equity manager be

Investment Portfolio Performance ... 54 ... The professional Investment Staff, supported by a group of professional consulting firms hired by the Retirement Board, analyzes, develops and recommends asset allocation mixes, manages investment portfolios, and monitors the activities and performance of external investment managers. For Fiscal Year 2017, the investment portfolio returned 13.81%. ... Under the authorization of the Retirement Board and in line with the 2017 Annual Investment Plan, the

Suddenly, in November–December 2020, those figures grew impressively: December year-to-date returns were 12.02% for the pension portfolio and 10.96% for the health care portfolio. Real Estate $8.892 ... Private Equity $10.499 ... Hedge Funds, Risk Parity and Derivative Instruments $6.945 Cash and Cash Equivalents $6.798 Fixed Income $32.320 Domestic Equities $23.568 International Equities $24.631 Historical Investment Returns (net of fees) Year ... Trust. The ... 16, ... assets were included .

MONITOR ... AND REPORTING ... 4 ... A. QUARTERLY ... 4 B. ANNUALLY ... 4 Revision History ... The performance benchmark for the REITs sub-asset class is the FTSE NAREIT Equity REITs Total Return Index. The Annual Investment Plan, which is approved by the OPERS Retirement Board, shall include the performance expectations for this sub-asset. ... X. MONITORING AND REPORTING To ensure monitoring and compliance with this Policy, the following reports will be reviewed with the Board: ... A. Quarter

2 VIII. RISK MANAGEMENT ... 3 IX. ROLES AND ... SIBILITIES ... 6 ... ... 6 B. INVESTMENT ... ... 6 C. INVESTMENT COMPLIANCE ... 6 D. INVESTMENT ADVISORS ... 7 X. MONITORING AND REPORTING ... 7 A. QUARTERLY ... 7 B. SEMI-ANNUALLY ... 7 C. ANNUALLY ... 7 Revision History ... The performance benchmark for the private market Real Estate sub-asset class is the National Council of Real Estate Investment Fiduciaries (“NCREIF”) Fund Index – Open End Diversified Core Equity ("ODCE”) net of fees plus

Performance Performance data shown represents past performance and is not a guarantee or prediction of future results. For performance data current to the most recent month-end