How The Fund Works

Investments & Performance
Current Performance

Compare the Fund’s performance against its benchmarks.

Performance Results
Net of Investment Fees | Quarter Ended June 30, 2018

Asset Class Retirement
Fund Return
Benchmark
Return
Benchmark
Name
US Equity 4.05% 3.89% Russell 3000
Int'l Emerging Markets Equity -8.26%   -7.96% MSCI Emerging Markets
Int'l Developed Markets Equity  1.07% -0.75% MSCI World ex US
Global Equity -0.02% 0.53% MSCI ACWI
Hedge Funds - Diversifying  0.25% 0.14% HFRI Macro, HFRI Relative Value, HFRI Equity Market Neutral, and Barclays CTA Indices
Hedge Funds - Directional 1.08% 0.85% HFRI Equity Hedge Index
Private Equity   3.18% 2.47% Cambridge Vintage Year
Real Estate  0.44%  2.55% NAREIT/CA VIntage Yr
Natural Resources  2.51% 7.64% Cambridge Associates / MSCI World Natural Resources / Bloomberg Commodities Index
Rates 0.13% 0.06% Barclays US Gov't Intermediate
Credit 1.65% 0.91% Barclays Corp HY & CS Leveraged Loan
Cash 0.32% 0.45% 90-Day T-Bill
Clifton Overlay * -12.01% 0.91% Composite Benchmark
Total Fund 0.86%   0.91% Composite Benchmark

*Return based on value of collateral, not actual exposure.

Performance Results
Net of Investment Fees | Fiscal Year-to-Date June 30, 2018

Asset Class Retirement
Fund Return
Benchmark
Return
Benchmark
Name
US Equity 15.48%  14.78% Russell 3000
Int'l Emerging Markets Equity 9.81% 8.2% MSCI Emerging Markets
Int'l Developed Markets Equity 4.92% 7.04% MSCI World ex US
Global Equity 9.33% 10.73% MSCI ACWI
Hedge Funds - Diversifying  2.77% 2.98% HFRI Macro, HFRI Relative Value, HFRI Equity Market Neutral, and Barclays CTA Indices
Hedge Funds - Directional
 6.72%  8.22% HFRI Equity Hedge Index
Private Equity 18.35% 16.09% Cambridge Vintage Year
Real Estate 11.82% 14.11% NAREIT/CA VIntage Yr
Natural Resources 12.47% 15.04% Cambridge Associates / MSCI World Natural Resources / Bloomberg Commodities Index
Rates -0.53% -0.73% Barclays US Gov't Intermediate
Credit 7.28% 3.64% Barclays Corp HY & CS Leveraged Loan
Cash 0.62% 1.36% 90-Day T-Bill
Clifton Overlay * -7.95% 8.93% Composite Benchmark
Total Fund 9.4% 8.93% Composite Benchmark
*Return based on value of collateral, not actual exposure.