How The Fund Works

Investments & Performance
Current Performance

Compare the Fund’s performance against its benchmarks.

Performance Results
Net of Investment Fees | Quarter Ended September 30, 2017

Asset Class Retirement
Fund Return
Benchmark
Return
Benchmark
Name
US Equity 4.29%  4.57% Russell 3000
Int'l Emerging Markets Equity  7.78%   7.89% MSCI Emerging Markets
Int'l Developed Markets Equity  4.88% 5.62% MSCI World ex US
Global Equity   5.26%  5.18% MSCI ACWI
Hedge Funds - Diversifying   -0.17% 1.19% HFRI Fund of Funds Composite
Hedge Funds - Directional 0.38% 3.65% HFRI Fund of Funds Composite
Private Equity   6.58%  4.08% Cambridge Vintage Year
Real Estate  5.11%  4.30% NAREIT/CA VIntage Yr
Natural Resources  0.44%  2.62% DJ/UBS Commodities Index
Rates 0.37% 0.34% Barclays US Gov't Intermediate
Credit 1.87% 1.52% Barclays Corp HY & CS Leveraged Loan
Cash 0.14%  0.26% 90-Day T-Bill
Clifton Overlay *  -3.74%  3.65% Composite Benchmark
Total Fund   3.23%   3.65% Composite Benchmark

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

Performance Results
Net of Investment Fees | Fiscal Year-to-Date September 30, 2017

Asset Class Retirement
Fund Return
Benchmark
Return
Benchmark
Name
US Equity 4.29%  4.57% Russell 3000
Int'l Emerging Markets Equity 7.78% 7.89% MSCI Emerging Markets
Int'l Developed Markets Equity  4.88% 5.62% MSCI World ex US
Global Equity 5.26% 5.18% MSCI ACWI
Hedge Funds - Diversifying   -0.17% 1.19% HFRI Fund of Funds Composite
Hedge Funds - Directional
 0.38%  3.65% HFRI Fund of Funds Composite
Private Equity  6.58% 4.08% Cambridge Vintage Year
Real Estate  5.11% 4.30% NAREIT/CA VIntage Yr
Natural Resources 0.44% 2.62% DJ/UBS Commodities Index
Rates 0.37% 0.34% Barclays US Gov't Intermediate
Credit 1.87%  1.52% Barclays Corp HY & CS Leveraged Loan
Cash  0.14%   0.26% 90-Day T-Bill
Clifton Overlay *  -3.74% 3.65% Composite Benchmark
Total Fund 3.23% 3.65% Composite Benchmark
*Return based on value of collateral, not actual exposure.