Seattle City Employees’ Retirement System returned net 7.3 percent for the fiscal year ending on June 30, 2023. The fund increased its assets from $3.63 billion to $3.85 billion during the fiscal year, registering an underperformance of 0.75 percent compared with its benchmark, which achieved 8.05 percent growth.
The fund returned an annualized 8.36 percent over the past three years, 7.31 percent over the past five years, 8.14 percent over the past seven years and 7.65 percent over the past 10 years. Those returns underperformed compared with the fund’s benchmarks for each corresponding time frame (9.19 percent, 7.5 percent, 8.34 percent and 7.84 percent, respectively).
The biggest returns for the fund during this past fiscal year were from its U.S. equity holdings, which comprise 26.42 percent of its portfolio and yielded a return of 18.87 percent. Non-U.S. equity, which makes up 17.16 percent of SCERS’s portfolio, also performed well, returning 12.81 percent.
