Asset Allocation
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% |