Tag: San Francisco Employees’ Retirement System

Kurt Braitberg has been tapped as his successor at the $34 billion San Francisco Employees’ Retirement System.

SFERS encourages business to be creative in supporting the COVID-19 relief effort and to ‘utilize the current crisis to lead the human experience to new heights.’

The city employees’ retirement system joins others around the world who’ve promised to do the same.

The San Francisco retirement system has managed to beat its annual expected rate of return for the 2018-2019 fiscal year despite a volatile equity market.

For now, the union-backed housing trust fixed income mutual fund is a winner, avoiding being fired by the San Francisco Employees’ Retirement System board.

The pension system will need to make major new investments in 2019 to keep its large private markets portfolio intact. In the case of private credit, the investments will also help build the asset class.

Dimensional Fund Advisors is the latest manager to be fired by the SFERS board due to performance issues for two of its investment strategies.

The investment made up 6.5% of the system’s approximate $3.5 billion small cap strategy.

Disclosures show SFERS has invested in two Chinese venture capital funds and another China-based fund focused on media and entertainment.

In the span of a year, the system has become one of the largest players among US pension systems.

The New York City firm is selected to manage an international portfolio even as other international equity strategies are being trimmed of their assets.