SDCERS Reports Revised Fiscal Year 2014 Investment Return of 17.3 Percent

Date: Sep 09, 2014


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. The announcement follows SDCERS initial preliminary return of 16.6 percent released in August, after further review by SDCERS’ general investment consultant Hewitt EnnisKnupp. 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’ 17.3 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 10.1 percent, the five-year return was 13.5 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.

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