Asset Allocation

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The following is SBCERA’s current asset allocation targets and ranges approved by the Board as of January 5, 2023.

Asset Allocation and Plan Size as of December 31, 2022
$13,524,039,711

Asset Class Allocation as of 9/30/2022 Target Allocations Target Ranges
Domestic Equities 15.5% 17.0% 10%-27%
International Equities 9.1% 13.0% 8%-18%
U.S. Fixed Income 2.3% 2.0% -3%-7%
U.S. Credit 11.8% 13.0% 8%-18%
Non-U.S. Fixed Income 5.1% 0.0% -5%-5%
Non-U.S. Credit 9.9% 11.0% 6%-16%
Emerging Market Debt 6.8% 6.0% 1%-10%
Real Estate 4.6% 5.0% 0%-10%
Private Equity 19.4% 18.0% 6%-23%
Real Assets 4.9% 6.0% 0%-10%
Absolute Return 3.4% 7.0% 0%-12%
Cash 7.2% 2.0% 0%-10%
Total 100.0% 100.0%  

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