San Bernardino County records biggest annual return in the pension fund’s history

The San Bernardino County (Calif.) Employees' Retirement Association (SBCERA) has reported a preliminary 33 percent net return on investments for the 12-month period ending June 30.

SBCERA has made more than $3 billion in gains in the fiscal year, concluding the past 12 months with a net asset value of $13.4 billion.

SBCERA said this is the biggest return in the pension fund’s history — both from an absolute dollar increase as well as percentage return basis. During the past 40 years, SBCERA said it has earned an average annual return of more than 8 percent on investments.

“This record-breaking return on investments is a result of our long-term and opportunistic strategy, our skilled team, and steady advice from our investment partners, including NEPC,” said Neal Waner, chair of the SBCERA board and investment committee. “These results tell us that we have a dependable and versatile strategy in place to pay promised benefits to our members for years to