Fund Performance
Fund performance is expected to provide more than half of the total amount required for retirement benefits with contributions from employees and the City representing the remaining amount.
In pursuit of its mission, SCERS seeks fund performance that matches or exceeds: (1) over a long-term period of 30 years, the actuarial rate of return as adopted periodically by the Board of Administration (currently 6.75%); (2) over a full market cycle, the Reference Passive Benchmark that reflects the Board's tolerance for volatility; and, (3) over an intermediate-period of 5 years, the Strategic Policy Benchmark that reflects the Board's strategic asset allocation. The Reference Passive Benchmark and Strategic Policy Benchmark are described further in the Investment Policy.
Fund performance (annualized) through December 31, 2023:
| Timeframe | SCERS | Strategic Policy Benchmark | Reference Passive Benchmark |
|---|---|---|---|
| 1 Year | 11.5% |
11.5% |
17.1% |
|
3 Years |
5.5% | 5.5% | 3.2% |
|
5 Years |
9.1% | 9.4% | 8.9% |
|
10 Years |
7.0% | 7.2% | 6.4% |
|
30 Years |
7.0% | 7.3% | n/a |
Notes: Net performance is shown for the 1, 3, 5, and 10-year timeframes; gross performance is shown for the 30-year timeframe.
SCERS's investment consultant produces quarterly fund performance reports that review the total investment portfolio and each asset class. Historical reports are available from the dropdown below:
- 2023 Q4 Net of Fees
- 2023 Q3 Net of Fees
- 2023 Q2 Net of Fees
- 2023 Q1 Net of Fees
- 2022 Q4 Net of Fees
- 2022 Q3 Net of Fees
- 2022 Q2 Net of Fees
- 2022 Q1 Net of Fees
- 2021 Q4 Net of Fees
- 2021 Q3 Net of Fees
- 2021 Q2 Net of Fees
- 2021 Q1 Net of Fees
- 2020 Q4 Net of Fees
- 2020 Q3 Net of Fees
- 2020 Q2 Net of Fees
- 2020 Q1 Net of Fees
- 2019 Q4 Net of Fees
- 2019 Q3 Net of Fees
- 2019 Q2 Net of Fees
- 2019 Q1 Net of Fees
- 2018 Q4 Net of Fees
- 2018 Q3 Net of Fees
- 2018 Q2 Net of Fees
- 2018 Q1 Net of Fees
- 2017 Q4 Net of Fees
- 2017 Q3 Net of Fees
- 2017 Q2 Net of Fees
- 2017 Q1 Net of Fees
- 2016 Q4 Net of Fees
- 2016 Q3 Net of Fees
- 2016 Q2 Net of Fees
- 2016 Q1 Net of Fees
- 2015 Q4 Net of Fees
- 2015 Q3 Net of Fees
- 2015 Q2 Net of Fees
- 2015 Q1 Net of Fees
- 2014 Q4 Net of Fees
- 2014 Q3 Net of Fees
- 2014 Q2 Net of Fees
- 2014 Q1 Asset Performance - Gross of Fees
- 2013 Q4 Asset Performance - Gross of Fees
- 2013 Q3 Asset Performance - Gross of Fees
- 2013 Q2 Asset Performance - Gross of Fees
- 2013 Q1 Asset Performance - Gross of Fees
- 2012 Q4 Asset Performance - Gross of Fees