San Diego City Employees’ Retirement System outperforms benchmark due to active managers

The San Diego City Employees’ Retirement System (SDCERS) has reported a net return of -1.7 percent for fiscal Year 2022.

Despite the negative figure, SDCERS said it significantly outperformed its benchmark, which posted a -5.7 percent return for the year, due to the performance of its active managers.

This past fiscal year, SDCERS’ total fund net return was in the top 4 percent compared with other similarly-sized pension plans. Over longer time periods, SDCERS stacks up well against its peers – posting top quartile returns over rolling 3-, 5-, 10- and 20-year periods ending June 30.

As of June 30, the trust fund’s assets totaled more than $10 billion — a net year-over-year decrease of around $328 million. SDCERS currently has a 11 percent target allocation to real estate.