Asset Classes

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
  • Mondrian Investment Partners Limited
  • Schroder Investment Management
  • Trilogy Global Advisors, LP
  • Wasatch Advisors, Inc.
  • William Blair & Company

Quarterly SEC Filings

As of September 30, 2017

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 does 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.

External Managers

  • BlackRock
  • HSBC Global Asset Management
  • MacKay Shields, LLC
  • Shenkman Capital Management, Inc.

PERA's Top Ten Bond Holdings by Fair Value as of December 31, 2016

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

  Par Value Bonds Fair Value

1.

$200,000

US Treasury Notes, 1.875%;
Due 10/31/2022

$197,344

2.

$174,328

GNMA Pool #MA4068, 3.000%;
Due 11/20/2046

$176,763

3.

$168,000

US Treasury Notes, 2.750%;
Due 2/15/2024

$173,512

4.

$165,000

US Treasury Notes, 2.625%;
Due 8/15/2020

$170,607

5.

$165,000

US Treasury Notes, 1.625%;
Due 7/31/2019

$166,154

6.

$145,000

US Treasury Notes, 1.375%;
Due 2/29/2020

$144,309

7.

$105,815

FNMA Pool #AL7936, 4.500%;
Due 9/1/2045

$114,823

8.

$105,000

US Treasury Notes, 1.375%;
Due 2/28/2019

$105,295

9.

$98,314

FHLMC Pool #G08669, 4.000%;
Due 9/1/2045

$103,297

10.

$92,994

FNMA Pool #AS7736, 3.000%;
Due 8/1/2046

$92,483

 

 

As of September 30, 2017

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

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.

As of June 30, 2017

Preliminary and unaudited. Based on reporting lags of three to nine months.

Preliminary and unaudited. Based on reporting lags of three to nine months.

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, 2017

Preliminary and unaudited.

Preliminary and unaudited.

Opportunity Fund

The Opportunity Fund is comprised of investments that would generally not be included in one of PERA’s other asset classes. While there is an emphasis on strategic investments, tactical opportunities are also considered. At the present time, the Opportunity Fund is comprised of allocations to timber, tactical and credit opportunities, and risk parity, which are all managed by external managers. The objective of the Opportunity Fund is to improve the risk-adjusted return of PERA’s consolidated portfolio.

 

As of June 30, 2017

Preliminary and unaudited.

Cash

As of September 30, 2017