Investment pools
San Bernardino County Employees’ Retirement Association
Total fund
Allocation as of · Allocation report ↗
Net market value$18.12B
Allocation rows within range12 / 12
Where the fund is invested
Select a band to explore its allocation.
Total fund$18.12B
Allocation by sleeve
Dot shows actual weight. Tick shows target. Negative distance indicates a policy-range breach.
Portfolio weights and dollars are net notional exposures from the quarterly report. The equity manager schedule lists underlying market values separately from the beta overlay.
| Sleeve | Net notional exposure | Actual | Target | Vs target | Policy range | Above min. | Below max. |
|---|---|---|---|---|---|---|---|
| U.S. Equities | $2.19B | 12.1% | 17% | −4.9 pp | 10% to 27% | +2.1 pp | +14.9 pp |
| International Equities | $1.51B | 8.4% | 13% | −4.6 pp | 8% to 18% | +0.4 pp | +9.6 pp |
| U.S. Core Fixed Income | −$286.2M | −1.6% | 2% | −3.6 pp | −3% to 7% | +1.4 pp | +8.6 pp |
| U.S. Credit | $2.31B | 12.8% | 13% | −0.2 pp | 8% to 18% | +4.8 pp | +5.2 pp |
| Non-U.S. Core Fixed Income | $905.9M | 5% | 0% | +5 pp | −5% to 5% | +10 pp | 0 pp |
| Non-U.S. Credit | $2.15B | 11.9% | 11% | +0.9 pp | 6% to 16% | +5.9 pp | +4.1 pp |
| Emerging Market Debt | $677.6M | 3.7% | 6% | −2.3 pp | 1% to 10% | +2.7 pp | +6.3 pp |
| Real Estate | $684.3M | 3.8% | 5% | −1.2 pp | 0% to 10% | +3.8 pp | +6.2 pp |
| Private Equity | $3.5B | 19.3% | 18% | +1.3 pp | 6% to 23% | +13.3 pp | +3.7 pp |
| Real Assets | $959.8M | 5.3% | 6% | −0.7 pp | 0% to 10% | +5.3 pp | +4.7 pp |
| Absolute Return | $2.01B | 11.1% | 7% | +4.1 pp | 0% to 12% | +11.1 pp | +0.9 pp |
| Cash | $1.5B | 8.3% | 2% | +6.3 pp | 0% to 10% | +8.3 pp | +1.7 pp |
Rebalancing policy and actions
- The board reviews its strategic asset allocation annually. The chart uses the policy limits reported alongside September exposures.
Managers by sleeve
Selected equity mandates and their market values come from the September quarterly report.
U.S. Equities1 roster entries
Sub-sleeves and exposures
- Large Cap Equity Source ↗Market value · $2.58B · 14.2% of portfolio per manager schedule ·
Reported roster
- SSgA S&P500 Disclosed account · Source ↗Market value · $2.58B · 14.2% of portfolio per manager schedule ·
International Equities3 roster entries
Sub-sleeves and exposures
Reported roster
- SSGA MSCI World Ex-US Equity Disclosed account · Source ↗Market value · $814.9M · 4.5% of portfolio per manager schedule ·
- Wasatch EM Select Disclosed account · Source ↗Market value · $324.0M · 1.8% of portfolio per manager schedule ·
- William Blair EM Growth Disclosed account · Source ↗Market value · $368.8M · 2% of portfolio per manager schedule ·