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The City of Milwaukee Pension Fund had a return of 4.8%, net of fees, in the third quarter of 2024. This return underperformed the Fund’s blended benchmark by approximately 0.1%. Cooling inflation data and a softening, though still strong, labor market led to falling interest rates during the quarter, culminating with the Federal Reserve lowering its policy rate by 50 basis points in September. This was a good environment for both stocks and bonds. The Fund’s public equity allocation was up 7.3%, net of fees, for the quarter. The Fund’s fixed income allocation gained 5.3%, net of fees, mainly driven by falling interest rates. The Fund’s absolute return allocation was up 2.5%, net of fees. As of September 30, 2024, the Fund was outperforming its benchmark, net of fees, over numerous longer time periods, including the trailing 3, 5, 10, 15, and 20-year time periods. The market value of the Fund on September 30, 2024 totaled approximately $6.06 billion.
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
ERS - 2024
ERS - 2023 Revised for Act 12
ERS - 2023
ERS - 2022
ERS - 2021
ERS - 2020
ERS - 2019
ERS - 2018
ERS - 2017 PABF - 2017
ERS - 2016 PABF - 2016
ERS - 2015 PABF - 2015
ERS - 2014 PABF - 2014
ERS - 2013 PABF - 2013
ERS - 2012 PABF - 2012
ERS - 2011 PABF - 2011
2024: 1Q 2Q 3Q
2023: 1Q 2Q 3Q 4Q
2022: 1Q 2Q 3Q 4Q
2021: 1Q 2Q 3Q 4Q
2020: 1Q 2Q 3Q 4Q
2019: 1Q 2Q 3Q 4Q
2018: 1Q 2Q 3Q 4Q
2017: 1Q 2Q 3Q 4Q
2016: 1Q 2Q 3Q 4Q
Note: Prior to 2018, GASB 67 Plan Reports were included as a part of our actuarial valuations.
2024
2024: 1Q 2Q
General Investment Policy
Real Estate Investment Policy
Private Equity Investment Policy