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55 3. ... SECTION 56 Chief Investment Officer's ... 65 57 Investment ... 167 ... Highlights 170 V ... Money Managers 177 76 Public Equity Commissions 18 ... Schedule of Investment Expenses 180 77 Investment Summary 181 78 Description of Hybrid Defined ... 2 80 Description of Defined ... 83 ... Portfolio Highlights: Figure 3.3: Traditional Equity Custom Benchmark Sectors and Regions 170 Figure 3.4: Public Equity – Top 10 Exposures 171 Figure 3.5: Fixed Income Portfolio by Sector Allocation 172…

77 Investment Summary ... INVESTMENT SECTION Investment Account: Figure 3.1: Asset Allocation Mix 166 Figure 3.2: Investment Performance Summary 166 ... Portfolio Highlights: Figure 3.3: Traditional Equity Custom Benchmark Sectors and Regions 168 Figure 3.4: Public Equity – Top 10 Exposures 168 Figure 3.5: Fixed Income Portfolio by Sector Allocation 169 Figure 3.6: Fixed Income – Top 10 Holdings by Market Value 170 Figure 3.7: Private Equity Program 170 Figure 3.8: Real Assets by Sector 171…

Approval of Minutes Following a motion by Dr. Gooden, and a second by Ms. Pantele, the VRS Board of Trustees unanimously approved the minutes from its September 25, 2025, meeting. Report of the Chief Investment Officer Andrew Junkin, Chief Investment Officer, began his report with a market overview and discussed asset allocation, total fund performance and tracking error, concluding that risk measures are within Board approved levels. Lastly, Mr. Junkin discussed the New Investments and…

ended June 30, 2024. funding more than $6.8 billion in benefits annually to our retirees. an estimated $122.4…

CIO Quarterly Report - QE December 2025 - Page 17 Performance Summary 01-31-2026 - Page 26 Asset Allocation Report - January ... 2026 - Page 27 Daily Asset Allocation Report 04-01-2026 - Page 28 New Investments and Terminations 04-08- ... Page 29 ... ification and Asset ... 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…

CIO Report 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. ... Performance-June30,2025 ... Total Public Equity 9.8 14.5 17.9 17.8 10.9 4.1 17.8 ~nchmarlc 9.8 13.7 17.1 16.7 10.4 3.9 16.7 ... 11. ... 10.3 ... 3.3 ... Total Private Equity 1'.1 16.9 3.6 5.7 1.6 1.5 5.7 ~nchmarlc 11.1 15.8 7.3 7.4 -1.4 -4-3 7.4 ... 1.3 1 ... 5.4 ... 3.9 -1.3 ... 2.9 ..

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…

024 - Page 23 ... Performance Summary 01-31-2025 - Page 32 ... Page 33 ... 5 - Page ... discussed asset allocation ... CIO Report Mr. Junkin began his report with a market overview. Mr. Junkin then discussed total fund performance and asset allocation. Last, Mr. Junkin reviewed the New Investments and Terminations Report. ... oland provided a ... Fi .cal ... ii SYr ... Total Real Assets 1.1 5.7 3s4 -11.(1 (1.8 ,0.1 u Bendimark 5.6 3,3 ,0.1 -.3.-3 0.4 0.2 0.5 ... Portfolio Positioning Over T

Investments Report FOR THE QUARTER ENDING DECEMBER 31, 2025 ... FOR THE QUARTER ENDING DECEMBER ... The second quarter of the fiscal year produced solid results for the VRS portfolio, capping a strong calendar year and reinforcing the long-term strength of the investment program. For the calendar year ended December 31, 2025, the Total Fund returned 12.8%, in line with the board-approved benchmark and reflecting broad gains across public markets, credit and real assets. For the…

For the quarter ended March 31, 2026, the VRS portfolio posted positive results despite a more difficult and volatile market. The Total Fund returned 0.3% for the quarter and 11.5% for the one-year period, reflecting the benefits of diversification during a time of falling global stock markets, ongoing inflation concerns and uncertainty about interest rates. Long-term performance remains a clear strength of the VRS investment program. Over the five- and 10-year periods ended March 31, 2026,…

based on: - Value added services – e.g., providing education, distributing research, and performing analytics on ... Client service – e.g., responsiveness, timeliness, competency, and approach - ... ERA’s ... ’s assets ... 4th Quarter 2023 ... COMMINGLED FUNDS AERMONT Real Estate Fund IV 33.0 0.0% 1 S 4 B 3 AEW Value Investors Asia III 27.2 0.0% 1 S 4 B 4 AG Asia Realty Fund IV 76.3 0.1% 4 S 3 B 3 AG Europe Realty Fund II 42.6 0.1% 1 S 3 B 3 Bain Capital Real Estate Fund I 80.6 0.1% 5 S 3 A 3…

The WSIB’s private equity GPs continue to seek quality investment opportunities in Washington state. As of June 30, 2023, the WSIB’s investment portfolio held $5.2 billion in Washington-based investments across its public equity, fixed income, real estate, tangible assets, innovation portfolio, and private equity investment programs. This represents approximately 3.3 percent of the state’s Commingled Trust Fund (CTF). Every investment was made in accordance with the WSIB’s statutory mandate. T

Net position was $137.2 of New York State having a net worth of at least $10 million, improved by one-to-four family residential…

▻ CalSTRS' real estate portfolio NAV has decreased by $900M in the past six months to $49.0B (as of Q3 2023). The controlled portfolio is 76% of.

Real Estate Investment ... Portfolio Performance & Risk Updates ... 3. Portfolio Structural Updates ... 4. Key ... & Operational Updates 5. ... 6. Appendix ... 2 Portfolio Performance & Risk Updates Market Themes and Notable Items to Watch ... Upside Capture Ratio Downside Capture Ratio ... Total Fund Summary as of September 2024 ... $41,926 ... 51% ... Real Assets & Inflation Hedges ... $11,877 15% ... $17,8 ... 22% ... $1,164 ... Historical Net Performance as of September 2024 ... Total…

2022 Investment Highlights OPERF: Garnering National Recognition and Net-Zero Transition Pledge Portfolio Performance: 2022 and Over Time ... | | various market conditions and be capable of fulfilling various operational needs, such as short-term obligations to beneficiaries and long-term investment objectives for sustainable returns. Treasury’s strategic development of a diversified portfolio allowed it to navigate volatile market conditions in ... 22 and minimize ... . Despite a tumultuous…

Vintage Year Partnership Capital Commitment ... Total Capital Contributed ... Total Capital Distributed Fair Market Value ... 4 Waterton ... 14 Landmark ... Real Estate Fund III $ ... 15 Rock ... 0 $1 ... 15 Harrison ... Real Estate Partners ... $11 ... .0 $108.5 $53.7 $95.5 1 ... 38x 11 ... 18% 2 ... 15 W ... L.L.C $17.4 $14.3 $0.0 $16.8 1.17x 7.19% 2015 Lone Star Fund IX $300.0 $302.3 $232.6 $89.4 1.07x 3.61% 2015 Harrison Street REP V Co-Investment $35.0 $36.1 $11.9 $46.6 1.62x 13.81% 2015…

| Real Estate | | | 7.5-17.5% | | | 12.5% | | | | $ 13,719,337 | | 14.8% | | | | 19.98 | | | | 23.31 | | | | | 19.71 | | | | 13.62 | | | 11.91 | | | 11.23 | | | 10.81 | | | 11.45 | | | ... | Real Assets | | | 2.5-10.0% | | | | 7.5% | | | $ | 8,063,835 | 8.7% | | | | 18.07 | | | | 18.06 | | | | | 18.39 | | | | 11.41 | | | | 7.63 | | | 7.31 | | | 7.48 | | | 5.32 | | ... Asset Class Benchmarks: MSCI ACWI IMI NET (15.14) (11.78) 2.62 6.49 8.13 6.13 8.29 8.62 RUSSELL 3000+300 BPS QTR LAG (14.02) (13.

Returns for periods ending NOV-2 ... Real Estate 7.5-17.5% 12.5% $ 13,583,865 13.5% 2.84 3.35 (1.17) (3.92) 2.26 4.91 4.83 6.17 ... Oregon Custom Real Estate Benchmark 3.01 3.02 (3.02) (6.17) 0.47 2.57 2.65 4.41 ... Real Assets 2.5-10.0% 7.5% $ 10,875,835 10.8% 11.40 11.21 12.22 9.78 11.80 13.15 8.55 8.17

Returns for periods ending AUG-2 ... Real Estate 9.0-16.5% 12.5% $ 13,707,578 13.9% 2.78 4.01 (2.62) (3.51) 3.72 5.44 4.96 6.50 ... Oregon Custom Real Estate Benchmark 2.37 2.17 (4.46) (5.83) 1.67 2.36 2.82 4.67 ... Real Assets 2.5-10.0% 7.5% $ 10,695,684 10.8% 8.12 10.79 11.61 9.46 12.07 12.88 8.20 7.62

Vintage Year Partnership Capital Commitment ... Total Capital Contributed ... Total Capital Distributed Fair ... $10 ... 15 Harrison Street ... 108. ... C $17.4 $14.3 $1. ... 1.3 ... 15 Lone Star Fund IX $300.0 $302.3 $345.1 $94.2 1.4 ... x 13.01% 2015 Harrison Street REP V Co-Investment $35.0 $36.1 $44.5 $19.4 1.77x 10.71% 2015 Madison Realty Capital Debt Fund III, LP $150.0 $254.0 $184.5 $110.4 1.16x 4.28% 2015 Lone Star Real Estate Fund IV $243.0 $238.3 $221.3 $55.0 1.16x 6.74% 2016 Lone…

Summary As of December ... 31, 2025 ... | Category | Results | Notes | | --- | --- | --- | | Total Fund Performance Return | Positive | +16.4% | | Performance vs. Policy Index | Matched | +16.4% vs. +16.4% | | 1 Performance vs. Peers | Outperformed | +16.4% vs. +13.5% median (8th percentile) | | Asset Allocation vs. Targets | Detractive | Underweight to Private Equity and overweight Real Estate detracted | | Public Active Management | Outperformed | 8 of 11 active public managers beat…

Quarterly Review ... The State of Connecticut Retirement Plans and Trust Funds Alternative Investments Fund ... December 31, 2019 ... • Absolute Return Strategies Summary • Absolute Return Strategies Full Report 3. AIF Connecticut Horizon Fund (CHF) Portfolio 4. AIF Opportunistic Portfolio 5. AIF Real Assets Portfolio 6. Appendices ... • AIF Opportunistic and Real Assets Portfolios Supporting Analysis and Notes • Corporate Update • Disclaimer, Glossary, and Notes Executive…

Hartford, CT – At today’s Investment Advisory Council (IAC) meeting, Connecticut State Treasurer Shawn T. Wooden announced several investment decisions to benefit the Connecticut Retirement Plans and Trust Funds (CRPTF). Decisions included Connecticut committing $75 million in the Hg-CRPTF Co-Investment L.P. and $75 million in Hg Titan 1, L.P, within the CRPTF’s private equity allocation and private credit allocation, respectively. Treasurer Wooden also announced a commitment of $100 million…

Hartford, CT – At today’s Investment Advisory Council (IAC) meeting, Connecticut State Treasurer Shawn T. Wooden announced several investment decisions for the Connecticut Retirement Plans and Trust Funds (CRPTF). Decisions included committing €150 million Euros, approximately $177 million, to the ICG Europe Fund VIII, and $150 million to the Strategic Value Special Situations Fund V (SVSS V), both within the CRPTF’s private equity allocation. Treasurer Wooden announced his decision to commit $1

In the Real Estate Portfolio, the Treasurer's Office decided to commit up to $200 million to ... Smart Markets Fund, L.P. In the Infrastructure and Natural Resources Portfolio the Treasurer's ... Office decided to commit up to $150 million to AxInfra NA II, LP. Lastly, Treasurer provided a ... Presentation and Consideration of Real Estate Fund Opportunities ... Presentation and Consideration of Artemis Real Estate Partners Fund V, L.P. ... Amit Aggarwal, Principal Investment Officer, presented A

Legacy Private Equity 2005 261.2 34.7 333.4 465.6 83.0 1.65 9.8 8.3 NB Fund of One 2017 388.9 126.8 218.9 44.2 339.9 1.75 23.8 5.3 Private Debt 2010 698.0 171.6 645.2 564.4 209.1 1.20 6.4 5.5 Real Estate 2012 392.1 124.7 298.2 197.4 205.9 1.35 12.7 -0.3 Real Assets 2016 173.2 81.0 99.6 35.7 103.5 1.40 14.0 9.0 Venture Capital 2020 115.7 72.0 43.8 0.3 44.2 1.02 1.4 -0.6 Total 2,029.1 610.8 1,639.1 1,307.7 985.5 1.40 10.1 NA ... As of March 31, 2023, the Plan had committed $173.2 million to 15…

Private Real Estate ... As of June 30, 2018, the Retirement System had committed a total of $172.4 million to ten closed-end real estate funds. The Total Closed-End Program’s reported fair value of real estate investments was $44.2 million at June 30, 2018. ... | | Aggregate Real Estate Program | | 1 | | --- | --- | --- | --- | ... 10 | | ... | $172.4 ... | $126.5 million | | ... Distributions | $118.8 million | | ... | Reported Value | $44.2 million ... Total Value Multiple | ... 1.3x

The total reported fair value of the Real Estate Program's investments was $247.8 million at March 31, 2025, which equates to 4.7% of the overall…

MEETING DATE: October 15, 2025 SUBJECT: Investment Manager Compliance and Watch List Report—Third Quarter 2025 SUBMITTED FOR: Action X Information RECOMMENDATION Receive and file the Investment Manager Compliance and Watch List Report for the quarter ended September 30, 2025. PURPOSE This item complies with SCERS’ investment policy statement reporting requirements and contributes to the effective management and oversight of investment activities. DISCUSSION SCERS’ Investment Manager…

MEETING DATE: May 20, 2026 SUBJECT: Monthly Report of Investment Activity—April 2026 SUBMITTED FOR: Action X Information ... RECOMMENDATION Receive and file the Monthly Report of Investment Activity for April 2026. PURPOSE/STRATEGIC PRIORITY This item complies with SCERS’ investment policy statement reporting requirements to provide information on new investment activity in connection with SCERS’ investment goals and objectives. ATTACHMENT • Board Order • Monthly Report of Investment…

Merced County Profile • Merced County ranked fifth among California’s counties in farm production sales ($4.2 billion) in 2023. ... • Merced County’s median price of a single-family home averaged $406,000 in 2024, nearly 47 percent of the statewide average of $867,000 for the same period. • It costs about $7,500 a month ($90,200 a year) for a family of three to live in the county, about 17 percent less than the statewide average, and slightly more than Imperial and Kern counties, the cheapest…

Fourth Quarter 2023 ... Executive Summary | As of December 31, 2023 ... 31, ... Total Program 1 1,127.3 10.1 12.1 11.0 6 to 16 Core Allocation 896.0 79.5 68.5 70.0 55 to 85 Non-Core Allocation 231.3 20.5 31.5 30.0 15 to 45 ... Total Program Core Allocation Non-Core Allocation → The San Diego City Employees’ Retirement System (“SDCERS”) private real estate portfolio had a net asset value (“NAV”) of $1,127.3 million; equal to 10.1% of the total plan, which is within the Tactical Allocation…

Performance Report December 31, 2024 ... Real Estate 9.3 0.1 0.0 9.3 1.1 0.1 0.00 -0.09 0.00 -0.09 ... Real Estate 9.5 -5.5 -0.5 9.6 -1.8 -0.2 0.01 -0.37 0.00 -0.36 ... Absolute Return 5.8% Cash 1.0% Credit 9.5% ... Real Assets 14.8% ... Rate Sensitive 1 ... .2% Multi Asset 0.4% ... Performance Summary | As of December 31, 2024 ... Asset Allocation | As of December ... 31, 2024 ... 10 ... .0 -1.2 3.2 6 ... 7 1.6 6.6 6 ... 6 7.9 ... Asset Allocation & Performance | As of December 31, 2024

In accordance with Government Auditing Standards, we have also issued our report dated September 26,. 2024 on our consideration of BWC/IC's

A. Retirement Fund Balance Sheet from Vickie Fredrick, Division of Fiscal Management (email) B. Asset Consulting Group (email)  Performance Report- March 31, 2020 C. Jennison Associates LLC – (NA) D. AJO Portfolio (email)  Performance Report- March 2020  Purchase and Sales-March 31, 2020 ... J. Acadian (email)  Monthly Portfolio Review- March 31, 2020  Flash Report- March 31, 2020  Monthly Equity Market Review- March 2020  Quarterly Update- Q1 2020  Quarter Portfolio Review- March 31, 20

Valuation Date (VD): December 31, 2024 Prior Measurement Date: June 30, 2024 Measurement Date (MD): June 30, 2025 Membership Data: Retirees and Beneficiaries 117,870 Inactive Vested Members 33,664 Inactive Nonvested Members 43,391 Active Employees 155,688 Total 350,613 Single Equivalent Interest Rate (SEIR): Long-Term Expected Rate of Return 7.00% Municipal Bond Index Rate at Prior Measurement Date 3.94% Municipal Bond Index Rate at Measurement Date 5.25% Fiscal Year in which Fiduciary Net…

September 28, 2023 (Des Moines, IA) - At today’s quarterly meeting of its investment board, the Iowa Public Employees’ Retirement System announced that its investment program earned a 5.41% return in FY2023, slightly exceeding its policy benchmark of 5.27%. At the conclusion of FY2023, the value of the IPERS Trust Fund equaled $41.13 billion, a $1 billion increase from the same time in FY2022. ... Today the IPERS Investment Board also modified the System’s asset allocation plan as part of its…

To provide a glimpse of the unique and diverse properties owned by the State of Oklahoma, OMES selected five properties from the 2024…

783 ... 816 7.43% Absolute Return Pool 530,756 52,125,650 12 - - 52,656,417 0.16% Bank Loans Pool 97,708,200 2,778,085 8,944 22,825,141 (5,449,168) 117,871,202 ... .35% Total Non-Core Fixed Income 365,352,987 3,462,462,109 14,878,624 92,983,047 (86,341,311) 3,849,335,457 11.44% Other Securities and Cash 483,033,742 157,926,892 640,960,633 1.90% Real Estate Pool 65,547,062 2,930,098,774 1,367 2,995,647,203 8.90% Real Return Pool 41,116,451 2,520,532,977 795,244 491,849 (5,145,073) 2,557,791,448 7

As of April 2024, the County’s median home value was $1,220,000, 13.5% higher from the prior year. Source: Corelogic and Redfin The assessed value of ... determines how much ... taxes the County receives. After ten years of modest growth, the Assessor is estimating declining growth at 4.3% for the Fiscal Year 2024-25 assessment roll. ... : ✓ En ... in a ... Services (BACS). ✓ Recover ... funds to pay for vital ... ever to give ... Support Vision ... 6: ➢ Plan, design, construct and maintain…

FORMAL TRANSMITTAL OF THE ACFR The audited ... ACFR) of Howard ... in compliance with Howard ... Charter, Section ... 2 and includes the ... ’s opinion ... the independent public ... LLP hired by the ... Council. The annual ... finance departments of ... Office space and industrial vacancies remain below 12.0%, and commercial real estate vacancy rates continue to decline. The average for flex and retail vacancy rates remains below 3.2% as reported by ... CoStar. The year-to-date average…

1 Year 3 Year 5 Year 7 Year 10 Year 10.0% 2.8% 7.4% 7.5% 7.0% Source: State Street The Systems’ total assets under management at the close of the 2024 fiscal year stand at over $274 billion. The “funded ratio” (i.e. the percentage of assets against total obligations for the decades to come) for the combined funds was 83% (calculated as of June 30, 2023, the percentage will be updated later this year by the Actuary), which exceeds the average of U.S. public pension plans of 78%. The…

Historical Funded Ratio ... | Year | Funded Ratio | Assets | Unfunded | Members | | --- | --- | --- | --- | --- | | 2024 | 82.6% | N/A | N/A | N/A | | 2023 | 81.6% | $16.42B | $3.70B | 22,560 | | 2022 | 81.4% | $15.51B | $3.55B | 22,250 | | 2021 | 79.7% | $16.67B | $4.24B | 21,877 | | 2020 | 77.3% | $13.35B | $3.92B | 21,911 | | 2019 | 76.9% | $12.99B | $3.90B | 21,340 | | 2018 | 78.6% | $12.28B | $3.35B | 21,007 | | 2017 | 77.0% | $11.31B | $3.37B | 20,726 | | 2016 | 74.8% | $10.10B | $3.39B