Date: Nov 05, 2014


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.
SDCERS’ final 16.8 percent net return for FY 2014 compares favorably to the system’s actuarially assumed 7.25 percent return. As of June 30, 2014, SDCERS’ estimated three-year investment return was 10.2 percent, the five-year return was 13.5 percent, and the 10-year return was 7.8 percent. Returns over the past 25 years have averaged 9.4 percent annually. All asset classes added value to the portfolio in FY 2014, with results largely driven by strong performance from U.S. and international stocks.
The announcement follows SDCERS’ preliminary FY 2014 return of 17.3 percent released in September, as calculated by SDCERS’ general investment consultant Hewitt EnnisKnupp. The final return figures now reflect the fiscal fourth-quarter cash flows and market values from the non-publicly traded investment holdings, or private market holdings, of the portfolio.  Reporting of private market performance traditionally lags a quarter and is available in October of each year.

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