San Mateo County Pension Fund posts -4.7% return for the year, above benchmark, amid challenging stock and bond markets

For the past year, performance reflects a challenging market environment for public equities and fixed income securities. For the year ended June 30, the Russell 3000 Index and the Bloomberg US Aggregate Bond Index posted returns of -13.9% and -10.3% respectively, compared to returns of 44.2% and 4 .6% for the year ended June 30, 2021.

The pension fund had generated a net return of 24.3% for the year ended June 30, 2021, which exceeded the benchmark return of 23.5% for this period.

For the year ended June 30, the pension fund reported a net return of 14.7% for inflation-hedged assets, which fell below the benchmark return of 20.2%. Alternatives generated a net return of 8.1% (below its benchmark of 9.2%), while Fixed Income generated a net return of -8.3% (above its benchmark). its benchmark of -10.7%), and total stocks generated a net return of -14.7% (below its benchmark of -14.5%).

Asset class returns in the report are not broken down by region or style.

As of June 30, SamCERA’s actual allocation was 25.1% Fixed Income, 20.3% Domestic Equities, 16.4% International Equities, 9.2% Real Estate, 7, 6% absolute return, 7.5% private equity, 6.2% public real estate assets, 4.2% cash and liquid assets. overlay, and the rest in private real estate assets.

Chief Investment Officer Michael Coultrip could not be immediately reached for further information.

Dolores W. Simon