File #: ID#19-5860    Version: 1 Name: Review Calendar 2018 Investment Performance
Type: Action Item Status: Filed
File created: 3/1/2019 In control: Pension Trustees
On agenda: 3/18/2019 Final action: 3/18/2019
Title: Annual review of the Employees' Pension Plan investment performance for the calendar and plan year ended December 31, 2018.
Attachments: 1. Pension Plan Investments Calendar 2018.pdf, 2. 4Q18 City of Clearwater_Full Report.pdf

SUBJECT/RECOMMENDATION:

Title

Annual review of the Employees’ Pension Plan investment performance for the calendar and plan year ended December 31, 2018.

 

Body

SUMMARY: 

Annually a presentation of the Plan’s calendar year investment performance is made to the Trustees. For calendar 2018, the Plan realized a negative investment return of (2.65%), versus a customized benchmark of negative (4.62%), placing the plan in the 29th percentile of public pension plans per the Wilshire Public Plan Sponsor Universe.

 

For the last three calendar years, the plan had an average annualized return of 6.41%, versus a benchmark of 5.72%, placing the plan in the 38th percentile of public plans.

 

Staff continues to seek diversification and decreased volatility in investment returns for the Plan via alternative investment categories. In recent years, new categories introduced have included timber investments, core plus real estate, and infrastructure.

 

The investment committee, with the assistance of the Plan’s investment consultant, CapTrust Advisors, closely monitors underperforming money managers and will continue to recommend terminations and replacements when appropriate.