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Asset Classes

Overview

Strategic asset allocation is the most significant factor influencing long-term investment performance and asset volatility. As a long-term investor, PERA will invest across a wide spectrum of investments in a prudent manner.

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Global Equity 

Colorado PERA invests in stocks issued by domestic and international companies. Stock investments represent an important source of long-term growth for the overall portfolio.

External Managers

  • Acadian Asset Management
  • Baillie Gifford Overseas Limited
  • BlackRock
  • Mondrian Investment Partners Limited
  • Schroder Investment Management
  • William Blair & Company

Quarterly SEC Filings

 

As of September 30, 2021

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Fixed Income 

PERA invests in bonds primarily issued by U.S. and foreign governments, government entities, and corporations. The bonds that PERA owns are generally high quality, although PERA may have a modest exposure to emerging market and high-yield bonds. Bond investments represent an important source of interest income and cash flow for the Plan. The portfolio is 100% internal active management.

PERA's Top Ten Bond Holdings by Fair Value as of December 31, 2020

(In thousands of dollars, does not include defined contribution plans or commingled funds)

 Par ValueBondsFair Value
1.$309,452FNMA Pool #MA4237, 2.000%; Due 1/1/51$321,484
2.$246,931FHLMC Pool #SD8122, 2.500%; Due 12/1/50$260,529
3.$175,000US Treasury Notes, 2.250%; Due 2/15/27$193,437
4.$188,800US Treasury Notes, 0.875%; Due 11/15/30$188,181
5.$168,331GNMA II Pool #MA6656, 3.000%; Due 5/20/50$176,131
6.$175,000US Treasury Bonds, 0.375%; Due 3/31/22$175,554
7.$150,000FNMA Pool #MA4261, 2.000%; Due 2/1/36$156,896
8.$150,000US Treasury Notes, 1.750%; Due 5/15/23$155,707
9.$145,000US Treasury Notes, 2.000%; Due 6/30/24$154,068
10.$150,000US Treasury Notes, 0.250%; Due 10/31/25$149,355

As of September 30, 2021

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Private Equity 

PERA invests in private equity, venture capital, and special situation partnerships. PERA will also consider co-investments with private equity sponsors on a limited basis. The Private Equity program's objective is to generate investment returns in excess of the publicly traded markets as well as to deliver investment returns that rank highly against the private market opportunity set.

Private Equity Portfolio

Private Equity: The Basics

As of June 30, 2021

Real Estate 

PERA invests in office buildings, apartments, industrial buildings, and other types of commercial real estate around the world. PERA’s real estate investments produce stable income and the opportunity for capital appreciation.

As of June 30, 2021

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Alternatives 

Currently, Alternatives is comprised of a variety of liquid and illiquid investments including tactical opportunities stemming from market dislocations or regulatory change, alternative forms of credit, real assets, and global macro and multi-strategy hedge funds.

As of September 30, 2021

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