SJCERA is a public pension with a well-diversified $2.55 billion portfolio. Investments are managed in accordance with Board-approved asset allocation targets, policies and guidelines. SJCERA’s asset allocation is designed to attain our target return of 7.4 percent over the long term, while reducing global public equity risk, generating income, and providing downside protection.
Staff, along with the Board’s general pension consultant, Pension Consulting Alliance (PCA) and specialty real estate consultant, Courtland Partners, are responsible for the implementation of the Board’s investment plan.
To invest the assets, SJCERA hires external management firms who are experts in particular asset classes and strategies. Investment managers seeking to do business with SJCERA, should first meet with our consultant(s). The consultants perform due diligence on all investment opportunities and recommend the appropriate firms and strategies to SJCERA. The Board interviews the finalists and makes the ultimate decision on which firms to hire.
On a regular basis staff and consultants monitor the managers’ strategy, philosophy, personnel, fees and performance. The results of the monitoring activities are reported to the Board on a quarterly basis.