Published: June 30, 2019
The Retirement System’s investment objective is to maximize long-term rates of return on investments within prudent guidelines.
The professional Investment Staff, supported by a group of professional consulting firms hired by the Retirement Board, analyzes, develops and recommends asset allocation mixes, manages investment portfolios, and monitors the activities and performance of external investment managers. For Fiscal Year 2019, the investment portfolio returned 8.18%.
Last fiscal year, the Retirement Board approved a revised asset allocation policy, driven by a 10% allocation to implement a new Private Credit Program. Under the authorization of the Retirement Board, and in line with the 2019 Annual Investment Plan, the investment team committed a total of $6.3 billion in new investments: $1.8 billion in Private Equity, $1.2 billion in the Real Assets portfolio, $1.1 billion in Absolute Return, $1.3 billion in Public Equity, and $925 million in private credit.
