About Investments
ACERA collects regular contributions for the retirement fund from our members and participating employers, and we invest the fund all over the world. The combination of employee and employer contributions and the earnings from our investments give us the ability to pay our members the retirement benefits that they’ve earned.
Current Investment Portfolio
In order to keep investment risks as low as possible, ACERA invests in a diverse group of investments called “asset classes.” ACERA’s investment team, investment consultants, and the Board of Retirement together strategically determine the portions of the fund to allocate to the classes of assets in order to minimize risk while maximizing return.
Investment Performance
November 2024 Snapshot Report
ACERA posts and maintains an archive of performance reports. Semi-annual reports are posted approximately 5-6 months after the end of the period being reported on. ACERA also provides the most recent monthly performance report.
Note: in 2024, ACERA switched to providing semi-annual reports for the 2nd and 4th quarters rather than the 1st and 3rd.
How We Choose Managers
ACERA is a well-diversified public pension plan with a multi-billion-dollar investment portfolio. Rather than making investments directly, like all pension funds, we work with expert investment managers who handle specific asset classes on our behalf.
Investment Policies
ACERA has established investment policies as protocol to govern how we invest and manage our investments.
Directed Brokerage Program
In accordance with ACERA’s Directed Brokerage Program (adopted in 2006), ACERA encourages all participating Investment Managers to utilize all the Corresponding Brokers, especially local and emerging Correspondent Brokers when such utilization does not comprise “Best Execution.”