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At the September Board meeting, SDCERS’ Investments Team reported a final return of 7% (net of fees) for Fiscal Year 2019. As of June 30, 2019, the trust fund’s assets totaled $8.4 billion, reflecting a net increase of $370 million over the past year. SDCERS’ average rate of return over the past 20 years is 7.3%, and since its inception is 8.9%.
There are a few ways to measure an investment portfolio’s performance – after all, 7% is great if the market averaged only a 3% return for example, but 7% isn’t so good if the market averaged 10-15%. One way we measure our performance is by comparing our actual rate of return to the actuarial rate of return, which is the expected earnings rate determined by SDCERS’ actuary and used to calculate things like contribution rates. We are happy to report that our 7% return beat our actuarial rate of return of 6.5%, which indicates SDCERS is maintaining its long-term investment strategy to ensure the continued payment of promised pension benefits to its members.
Another way to measure performance is by comparing our returns to a market benchmark, which is basically how the market did if its asset allocations were invested proportionate to SDCERS’ portfolio. Unfortunately, we did not beat our market benchmark of 7.6%; this is primarily due to relative underperformance from our private equity investments. (See full article for more details.)
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SDCERS’ Total Fund reported performance of +8.9% net of fees compared to the benchmark of 7.6% and assets topped $8 billion for the fiscal year ended June 30, 2018. U.S. equities were a strong source of value-add during the year, up 16.3% compared to the benchmark of 14.8%. Learn More...
San Diego City Employees’ Retirement System (SDCERS) reported a final return of 13.5% (net of fees) for the fiscal year ending June 30, 2017. Total Fund assets totaled $7.5 billion, representing growth of approximately $686 million during the fiscal year. While each asset class generated positive returns, the Fund’s double-digit return was primarily driven by public equities.
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San Diego City Employees’ Retirement System (SDCERS) reported a preliminary return of 13.4% (net of fees) for the fiscal year ended June 30, 2017. Total Fund assets totaled $7.5 billion, representing growth of approximately $686 million during the fiscal year. While each asset class generated positive returns, the Fund’s double-digit return was primarily driven by public equities.
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The Investment Division recently completed a review of SDCERS’ risk-adjusted return to understand better how SDCERS is being compensated for the risk it assumes in its portfolio. Aiming for a higher return is great, but not if it comes at the cost of taking on excessive risk that threatens the portfolio’s long-term stability. Learn More...
San Diego City Employees’ Retirement System (SDCERS) reported a preliminary return of 1.1% (net of fees) for the fiscal year ending June 30, 2016. Despite the low absolute return, the performance was in the top third of the All Public Funds Universe obtained from BNY Mellon and Investment Metrics. Assets under management were $6.8 billion as of June 30, 2016. Learn More...
SDCERS’ Chief Investment Officer, Liza Crisafi, received the Institutional Investor Small Public Pension of the Year award at the 7th Annual U.S. Investment Management Awards in New York City. Learn More...
San Diego City Employees’ Retirement System (SDCERS) reported a final return of 3.3% (net of fees) for the fiscal year ending June 30, 2015. Assets under management grew $122 million during the fiscal year. Learn More...
San Diego City Employees’ Retirement System (SDCERS) reported a preliminary return of 3% (net of fees) for the fiscal year ending June 30, 2015. Assets under management grew $100 million during the fiscal year.
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SDCERS is pleased to present its Popular Annual Financial Report for FY 2014. The PAFR provides a summary of SDCERS' financial health, investment performance and key accomplishments throughout the year. Learn More...
Investment officers from the San Diego City Employees’ Retirement System (SDCERS) today reported a final 16.8 percent investment return (net of fees) for the fiscal year ending June 30, 2014. Assets under management grew by $1 billion during the fiscal year.
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The San Diego City Employees' Retirement System reported Tuesday that its net investment return for the fiscal year that ended June 30 was 17.3 percent, higher than initially believed. Learn More...
Investment officers from the San Diego City Employees’ Retirement System (SDCERS) today reported a revised preliminary 17.3 percent investment return (net of fees) for the fiscal year ending June 30, 2014. Learn More...
The San Diego City Employees’ Retirement System (SDCERS) has issued a Request for Proposals for General Investment Consultant. Learn More...
Council President Gloria praises pension system following solid investment returns for FY 2014
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Investment officers from the San Diego City Employees’ Retirement System (SDCERS) today reported a preliminary 16.6 percent investment return (net of fees) for the fiscal year ending June 30, 2014. Assets under management grew by $900 million during the fiscal year.
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Investment officers from the San Diego City Employees' Retirement System (SDCERS) have announced that as of July 2, 2014, assets have surpassed $7 billion for the first time in system history. Learn More...
There is no shortage of news media coverage focused on how public pension funds, in California and across the country, are yielding significant investment returns while simultaneously growing liabilities even faster. Learn More...
The San Diego City Employees’ Retirement System today announced final investment earnings of 13.6% (net of fees) for fiscal year 2013. The total fund policy benchmark was 12.6%. This placed SDCERS’ return in the top 17th percentile of the public funds universe, as measured by the Bank of New York Mellon. Learn More...
GLOBAL – San Diego City Employees' Retirement System is to invest in Europa Capital's value-add fund, in the latest example of US institutions targeting European real estate strategies. Learn More...
San Diego City Employees' Retirement System earned 13.9% net of fees for the year ended Dec. 31, said Elizabeth Crisafi, chief investment officer for the $5.6 billion system, in an e-mail. Learn More...
The San Diego City Employees’ Retirement System reported a 23.8% return on investments for the fiscal year ending June 30, 2011, adding approximately $1 billion to the pension fund and resulting in its strongest performance since 1987. Learn More...
In light of the market decline and volatility of the past few weeks, SDCERS’ Chief Investment Officer Liza Crisafi provided insight to questions regarding the effect on SDCERS’ investment strategy: Learn More...
Good news to report: SDCERS has completed detailed year-end calculations and, based on the unaudited financial statements for the fiscal year ended June 30, 2008. Learn More...
The current turmoil in the global financial markets has impacted SDCERS’ investments just as it has every other institutional and individual investor. Learn More...
Given recent events in the financial market, the SDCERS Board of Administration issued a press release to address concerns and emphasize its long-term investment strategy.
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