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, 2018

Asset Class Retirement
Fund Return
Benchmark
Return
Benchmark
Name
US Equity 5.46% 7.12% Russell 3000
Int'l Emerging Markets Equity -3.98%   -1.09% MSCI Emerging Markets
Int'l Developed Markets Equity  2.57% 1.31% MSCI World ex US
Global Equity 1.16% 4.28% MSCI ACWI
Hedge Funds - Diversifying  2.72% 0.78% HFRI Macro, HFRI Relative Value, HFRI Equity Market Neutral, and Barclays CTA Indices
Hedge Funds - Directional 1.75% 0.48% HFRI Equity Hedge Index
Private Equity   5.48% 6.50% Cambridge Vintage Year
Real Estate  5.91% 0.75% FTSE/NAREIT/CA VIntage Yr
Natural Resources  7.21% 2.83% Cambridge Associates / MSCI World Natural Resources / Bloomberg Commodities Index
Rates -0.04% -0.11% Barclays US Gov't Intermediate
Credit 1.94% 2.17% Barclays Corp HY & CS Leveraged Loan
Cash 0.33% 0.49% 90-Day T-Bill
Clifton Overlay * 1.39% 2.63% Composite Benchmark
Total Fund 3.07%   2.63% Composite Benchmark

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

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

Asset Class Retirement
Fund Return
Benchmark
Return
Benchmark
Name
US Equity 5.46%  7.12% Russell 3000
Int'l Emerging Markets Equity -3.98% -1.09% MSCI Emerging Markets
Int'l Developed Markets Equity 2.57% 1.31% MSCI World ex US
Global Equity 1.16% 4.28% MSCI ACWI
Hedge Funds - Diversifying  2.72% 0.78% HFRI Macro, HFRI Relative Value, HFRI Equity Market Neutral, and Barclays CTA Indices
Hedge Funds - Directional
 1.75%  0.48% HFRI Equity Hedge Index
Private Equity 5.48% 6.50% Cambridge Vintage Year
Real Estate 5.91% 0.75% FTSE/NAREIT/CA VIntage Yr
Natural Resources 7.21% 2.83% Cambridge Associates / MSCI World Natural Resources / Bloomberg Commodities Index
Rates -0.04% -0.11% Barclays US Gov't Intermediate
Credit 1.94% 2.17% Barclays Corp HY & CS Leveraged Loan
Cash 0.33% 0.49% 90-Day T-Bill
Clifton Overlay * 1.39% 2.63% Composite Benchmark
Total Fund 3.07% 2.63% Composite Benchmark
*Return based on value of collateral, not actual exposure.