Overview
Colorado PERA invests retirement and Health Care Trust Fund assets for the sole benefit of the Plan’s members. State law gives responsibility for the investment of PERA’s funds to the PERA Board of Trustees. The Board approves the Colorado PERA Statement of Investment Policy and determines the strategic asset allocation policy. PERA believes that the most effective and efficient long-term strategy is to invest in a broad array of asset classes.
PERA Investment Management Staff
- Amy C. McGarrity, Chief Investment Officer
- Tom Liddy, Director of Investment Operations
- Jim Liptak, Director of Equities
- C.H. Meili, Director of Real Estate
- Tim Moore, Director of Private Equity
- Gary Ratliff, Director of the Opportunity Fund
- Mark Walter, Director of Fixed Income
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:
| Asset Class | Policy Target | Policy Range |
|---|---|---|
| Global Equity | 53.5% | 47-59% |
| Fixed Income | 23.5% | 18-28% |
| Real Estate | 8.5% | 5-12% |
| Private Equity | 8.5% | 5-12% |
| Opportunity Fund | 5.0% | 0-9% |
| Cash | 1.0% | 0-3% |
| Approved by PERA Board of Trustees, effective July 1, 2016 | ||
|
Preliminary and unaudited asset allocation as of March 31, 2017
|
Quarterly Performance
Preliminary and unaudited, as of March 31, 2017
| Total Return1,2 | |||||||
|---|---|---|---|---|---|---|---|
| Portfolio | Market Value (In Millions) | % of Total Fund | 3-Month | Year-to-Date | 1-Year | 3-Year | 5-Year |
| Global Equity | $25,619 | 57.0% | 7.2% | 7.2% | 15.2% | 5.6% | 9.1% |
| Fixed Income | $9,941 | 22.1% | 1.1% | 1.1% | 1.8% | 3.1% | 2.9% |
| Private Equity3 | $3,609 | 8.0% | 2.8% | 12.2% | 12.2% | 9.5% | 11.4% |
| Real Estate4 | $3,911 | 8.7% | 3.7% | 11.2% | 11.2% | 13.9% | 13.2% |
| Opportunity Fund5 | $1,407 | 3.1% | 1.0% | 1.0% | 9.4% | 2.1% | 2.7% |
| Cash | $434 | 1.0% | 0.2% | 0.2% | 0.6% | 0.3% | 0.2% |
| Total Fund | $44,921 | 100% | 4.2% | 4.2% | 10.7% | 5.7% | 7.8% |
| 1 | 3- and 5-year returns are annualized. |
| 2 | Total returns are net of fees. |
| 3 | Private Equity performance is through December 31, 2016, and is based on reporting lags of 3 to 9 months. |
| 4 | Real Estate performance is through December 31, 2016. |
| 5 | Opportunity Fund components may have reporting lags of up to 6 months. |
Colorado Mile High Fund
Sponsored by PERA and managed by the Grosvenor Capital Management, Customized Fund Investment Group, the Colorado Mile High Fund is a $50 million co-investment program designed to invest in a diversified, high-quality portfolio of companies with a nexus to Colorado. With established industries, strong growth opportunities, a dedicated research community, and an active private equity market, the state is ripe for investment.