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Asset Allocation

Asset Allocation

The PERA Board determines the strategic asset allocation policy for the fund. The PERA Board’s policy specifies the desired target allocation for each asset class as well as the ranges within which each asset class may operate. The PERA Board commissioned an asset/liability study during 2019, which resulted in the approval of the following 2021 Policy Benchmark weights and long-term asset allocation and ranges, effective January 1, 2021:

Asset Class2021 Policy Benchmark WeightLong-Term Target AllocationPermissible Range
Global Equity55.5%54%49.5% to 61.5%
Fixed Income23.5%23%18.5% to 28.5%
Private Equity8.5%8.5%4% to 13%
Real Estate8.5%8.5%4% to 13%
Alternatives4.0%6%0% to 12%
Cash0%0%0% to 3%
Total Fund100%100% 

Quarterly Performance

Preliminary and unaudited, as of September 30, 2021

Market Value

PortfolioMarket Value (in Millions)% of Total Fund3-MonthYear-to-Date
Global Equity$36,74958.0%-0.5%11.6%
Fixed Income$12,16819.2%0.1%-1.5%
Private Equity*$5,9469.4%7.3%33.7%
Real Estate**$5,1898.2%5.9%11.7%
Alternatives***$2,9644.7%0.1%6.2%
Cash$3120.5%0.0%0.0%
Total Fund$63,328100%0.9%10.4%

  * Private Equity performance is through September 30, 2021, and is based on reporting lags of 3-9 months.
 ** Real Estate performance is through September 30, 2021.
*** Alternatives components may have reporting lags of up to 6 months.

 Total Return 

(3-, 5-, and 10-year returns are annualized. Total returns are net of fees)

Portfolio1-Year3-Year5-Year10-Year
Global Equity28.7%14.9%15.4%13.6%
Fixed Income-0.7%5.7%3.4%3.6%
Private Equity*46.5%21.2%18.9%14.6%
Real Estate**16.9%9.6%10.0%11.5%
Alternatives***12.5%7.3%7.2%4.9%
Cash0.0%1.2%1.2%0.7%
Total Fund21.8%12.9%12.3%10.9%

  * Private Equity performance is through September 30, 2021, and is based on reporting lags of 3-9 months.
 ** Real Estate performance is through September 30, 2021.
*** Alternatives components may have reporting lags of up to 6 months.