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

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%…

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.

▪ 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…

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…

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…

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,…

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,…

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…

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…

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%. →…

FY26 BUSINESS PLAN INVESTMENT ... The Investment Division is responsible for the management of a $24 billion investment portfolio. LACERS’ primary investment objective is to maximize the return of the portfolio at a prudent level of risk to meet the obligations of the System. The Investment Division's project-based workload is largely driven by the Asset Allocation Policy, subject to Board approval, that provides direction in portfolio diversification to allow for prudent risk-taking.

Monthly Performance as of May 31, 2023 ... month ending May ... (Performance Data is Audited and Net of Fees) ... Asset Class Returns vs Benchmark ... % of Portfolio Passively Managed ... Total LACERS Fund -0.87 -0.12 3.76 -1.05 -1.38 8.44 5.87 7.03 U.S. Equity 0.02 0.78 7.32 1.58 -1.02 12.29 9.55 11.20 Non-U.S. Equity -3.24 -1.72 5.03 -1.68 -7.36 8.31 2.70 4.77 Core Fixed Income -1.08 -0.49 2.74 -1.76 -4.87 -2.93 1.30 1.76 Credit Opportunities -0.35 0.54 3.73 1.66 -3.95 1.70 1.90

EMPLOYEES" ... RETIREMENT ... 24,060,539,314 ... -1.91 ... U.S. ... 5,294,687,614 ... Non-U.S. ... 5,838,657,777 ... 3,116,883,157 ... 2,321,782,634 ... 4,516,518,707 ... 2,734,925,277 ... 237,084,148 ... RETIREMENT

INVESTMENT COMMITTEE MEETING ... 14, 20 ... 6 ... Todd Bouey, General Manager ... INVESTMENT MANAGER CONTRACT WITH SEGALL ... BRYANT & HAMILL, LLC REGARDING THE MANAGEMENT OF AN ... ACTIVE U.S. SMALL CAP VALUE EQUITIES PORTFOLIO AND POSSIBLE COMMITTEE ACTION ... ☐ CLOSED ☐ ... Recommendation That the Committee recommend to the Board a one-year contract renewal with Segall Bryant & Hamill, LLC for management of an active U.S. small cap value equities portfolio. Executive Summary Segall Bryant & H

LACERS investment portfolio ended the 2nd quarter with a market value of $10.6 billion, down $0.3 billion from the previous quarter. The Fund’s net of fee return was -1.4% for the quarter and 0.9% for the one-year period. ... classes, except for U.S. Equity and Non-U.S. Equity, produced positive returns for the ... nd quarter of 2012. ... generated a mixed result for the quarter. ... • Alternative Investments outperformed its benchmark by 8.5%, while Real Estate was in line with its benchmark.

FOURTH QUARTER 2017 ... - The following slides provide a review of key information pertaining to the Los Angeles City Employees’ Retirement System (“LACERS”) Real Estate Portfolio (the “Portfolio”) through December 31, 2017. A detailed performance report is also provided as Exhibit A. - The System is above its 5.0% target to Real Estate as of year-end. | | Market Value ($ millions)* | % LACERS Plan* | | --- | --- | --- | | LACERS Total Plan Assets | 17,237 | | | Real Estate Target | 862 | 5.0%

Over the one year time period, the LACERS Core Portfolio tracked the performance of the benchmark but slightly underperformed due to CMCT and JP Morgan.

- The following slides provide a review of key information pertaining to the Los Angeles City Employees’ Retirement System (“LACERS”) Real Estate Portfolio (the “Portfolio”) through December 31, 2018. A detailed performance report is also provided as Exhibit A. - The System is below its 7.0% target to Real Estate as of year-end on a funded and committed basis. - As of April 2018, LACERS increased its real estate target to 7%. The new target was applied as of 2Q18 and is reflected in this report.

Executive Summary The purpose of this report is to review the Los Angeles City Employees’ Retirement System (“LACERS” or the “System”) Real Estate Strategic Plan (“Strategic Plan”) and outline the corresponding Real Estate Investment Plan (“Investment Plan”). The Investment Plan includes actions which will help LACERS to capitalize on current market opportunities while still meeting the guidelines set forth in the proposed Strategic Plan. Since being re-engaged by the LACERS Board in 2014 to…

Real Estate Performance. Real estate valuations nearing bottom as mid-2024 performance flat to slightly positive. Real Estate Valuations.

-. During the Quarter, DRA Growth and Income Fund VII (15.0% net) and Waterton Residential Property Venture XIV (14.1% net) were the strongest performers. -.

Real Estate Portfolio Performance Review ... SECOND QUARTER 2021 ... - The following slides provide a review of key information pertaining to the Los Angeles City Employees’ Retirement System (“LACERS”) Real Estate Portfolio (the “Portfolio”) through June 30, 2021. A detailed performance report is also provided as Exhibit A. - The System is below its 7.0% target to Real Estate as of quarter-end on a funded and committed basis. The target allocationwasincreased from 5.0%in April 2018. | |…

LACERS has outperformed over the trailing year, but underperformed over all other periods, mostly due to weak performance of Opportunistic funds.

Teachers’ Retirement System of the State of Illinois ... Actuarial Valuation and Review as of June 30, 2024 ... We are pleased to submit the results of the annual valuation of the assets and liabilities of the Teachers’ Retirement System of the State of Illinois (TRS or System) as of June 30, 2024. This report has been prepared accordance with the funding policy specified under the Illinois Pension Code (40 ILCS 5/16). This valuation takes into account all of the pension benefits to which…

The images that accompany the data in this report are examples of real estate investments owned by TRS on behalf of our 423,504 members. In all, TRS has $7.35 billion invested in real estate all over the world, or 14 percent of the overall $52.8 billion TRS investment portfolio. As the commentary explains, TRS manages a highly diversified portfolio com prised of four general categories in order to protect assets. In other words, not all eggs are in one basket. In managing investments for…

Despite recent challenges to the economy and the investment markets, TRS finances remain stable with the long-term strategic goal of protecting member assets. In keeping with that strategy, the value of the TRS invest ment portfolio remains at record levels, with a total value of $66.3 billion reported at the end of June 2023. ... Due to the System’s low funded ratio – 44.8 percent – the TRS Board of Trustees employs a conservative invest ment strategy to reasonably offset further declines in…

Investment Portfolio Summary Stan Rupnik, Executive Director & Chief Investment Officer, provided the investment manager charts through April 30, 2025. Documentation is on file. ... Investment Performance Report & Pension Trends Becky Gratsinger of RVK, Inc. and Ghiané Jones, Deputy Chief Investment Officer, provided an overview of the final March 31, 2025, investment performance report, including trending pension topics and capital markets. Documentation is on file. The total fund return, net o

Dear TRS Members: We are pleased to present the Annual Financial Report Summary for the Teachers’ Retirement System of the State of Illinois (TRS) for the fiscal year ended June 30, 2024. This report provides critical details regarding the on-going efforts of the System’s trustees and staff to fulfill the TRS mission of delivering expert pension service to Illinois public educators as they earn their promised retirement security. Significant events in fiscal year 2024 • TRS reported a notable…

INVESTMENTS Introduction 62 Investment Summary 63 Asset Allocation/Portfolio Summary 65 Investment Results 67 Securities Lending 69 Brokerage Activity 70 Investment Manager and Custodian Fees 71 Investment Assets Under Management 75 Supplementary Schedules 81 ... MEMBER ASSETS REMAIN SECURE TRS reported a notable increase in its funded status for the year ending June 30, 2024, marking the fourth consecutive year of improvement. The funded ratio, calculated using the actuarial value of assets,…

THE SURS WAY valued at approximately $24.3 billion while the RSP and DCP were valued at approximately $4.3 billion and $67.4…

imately $4.3 billion and $67.4 million, ... . During fiscal year 2024 the SURS portfolio returned 8.3%, net of fees, above the long-term 6.5% assumed rate of return but below the return ... for the policy benchmark of 9.0%. However, SURS investment program has a long-term horizon. Portfolio returns, net of fees, are 7.4% over ... the last five years and 6.6% over the last ten years, each exceeding both the long-term assumed rate and the policy benchmark. ... 9.8% equity, 27 ... fixed income,…

Background The State Universities Retirement System is pleased to present its Annual Fiduciary Report. This comprehensive report provides a detailed overview of SURS' commitment to fulfilling its fiduciary duties, managing investments responsibly, and safeguarding the long-term financial security of our members. The mission of SURS is to secure and deliver the benefits promised to its members. SURS is committed to incorporating, where appropriate, the Sustainability Factors outlined in the…

SURS investment assets held in trust increased ... . Assets in ... Retirement Savings Plan (RSP ... and the Deferred Compensation Plan (D ... ), which are administered by a third ... party and are not included in SURS Statement ... Fiduciary Net Position, are valued at approx imately $4.9 billion and $131.5 million, respectively. During fiscal year 2025, the portfolio returned 6.4%, net of fees, exceeding the policy benchmark return of 6.1% but slightly trailing the 6.5% long term actuarial…

Townsend Fourth Quarter 2021 Real Estate Performance and Portfolio Review dated May 2022. 8. Townsend Fourth Quarter 2021 Real…

3/31/2026 ... 3/31/2026 ... 1,962,842,311 ... 9.24% ... 12.00% ... 1,962,842,311 ... 9.24% ... 12.00% ... +3.6% ... 1,418,910,865 ... 6.68% ... 1,418,910,865 ... 68% ... 24%

STRS Ohio Response to Benchmark Financial Services (BFS) Report ... Aug. 19, 2021 ... . Disclosure of Investment Costs and Performance ... Retirement System of Ohio ... STRS Ohio ... The purpose of this detailed analysis is to provide evidence which accurately describes the investment and operational practices of STRS Ohio. In short, we will provide facts to support the following, which refute the eight “findings” or allegations contained in the BFS Report: ...  Appropriate oversight exists…

Real Estate $ 8,842,408,532 9.8% $ 8,003,868,760 8.7% 10.0% -1.4 -13.5 ... PORTFOLIO PERFORMANCE REPORT Relative Objective Attainment Historical Fiscal (annualized) Sept. Qtr. 2023 Dec. Qtr. 2023 Mar. Qtr. 2024 Jun. Qtr. 2024 Fiscal YTD Mar. 2024 Trailing 4 Qtrs. Mar. 2024 1 Year 2023 3 Year ‘21-‘23 5 Year ’19-‘23 10 Year ’1 ... -‘23 ... Fixed Income Blended Benchmark1 -2.40% 6.23% -0.43% 3.23% 2.47% -0.35% -3.35% 0.99% 1.80% ... Real Estate STRS Ohio Real Estate3 ... -3.17% -1.63% -3.76% -8.33%