Sacramento County Employees’ Retirement System (SCERS) has renewed The Townsend Group’s role as real estate investment consultant for two more years, according to the pension fund’s board meeting document.

SCERS has a current real estate portfolio valued at $920m (€800m), representing 6.7% of its total investments. This is below its 8% target allocation for real estate.

The pension fund has 65% of its current real estate portfolio invested in core assets, exceeding its 60% target for this sector.

SCERS is under-allocated in non-core assets, with 35% currently invested compared with a 40% target.

The pension fund’s non-US investments are also under-allocated at 29%, compared with a 35% target.

To read the latest IPE Real Assets magazine click here.

Topics