SDCERS Reports Solid Return of 16.6 Percent for Fiscal Year 2014

Date: Aug 13, 2014


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.
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 returns do not yet include final results for private equity and real estate.
SDCERS’ 16.6 percent net return compares favorably to the system’s actuarially assumed 7.25 percent return. As of June 30, 2014, SDCERS’ estimated three-year investment return was 9.9 percent, the five-year return was 13.3 percent, and the 10-year return was 7.7 percent. Returns over the past 25 years have averaged 9.4 percent annually. Final returns for FY 2014 will be released in the fall.
Following receipt of plan sponsor contributions on July 1, 2014, investment officers also announced  the pension system assets under management surpassed the $7 billion mark for the first time in system history. This investment milestone and the historically strong investment  returns point to SDCERS’ effective long-term investment strategy, helping to ensure the delivery of benefits to its members for decades to come.
SDCERS administers defined benefit plans for the City of San Diego, the San Diego Unified Port District, and the San Diego County Regional Airport Authority, and provides service retirement, disability retirement, death and survivor benefits to more than 20,000 members.

Document Under Categories: Investments, Press Release