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As a precautionary measure related to the COVID-19 (coronavirus) outbreak, the ERS office is currently closed to the public. All in-person meetings and walk-ins are being cancelled at this time until further notice. If you need assistance, please contact ERS at (414) 286-3557.
Please be advised that the ERS’s daily operations and services are NOT interrupted, including the processing of benefit-related updates and annuity payments. Retirement Counseling Sessions and other meetings are currently being conducted by phone at this time.
Please email us at norm@cmers.com with your questions. Please be advised that responses may be delayed.
The City of Milwaukee Pension Fund had a return of 5.6%, net of fees, in the third quarter of 2020. This return underperformed the Fund’s blended benchmark by 0.4%. Markets continued their rebound off the March lows, as the unemployment rate declined to 7.9%, which is still elevated by historical standards, but much improved from the 14.7% peak in April. The continued rebound in markets led to positive quarterly returns for many of the Fund’s asset classes. Private Equity led the way with a return of 10.7%, net of fees. The Fund’s Public Equity allocation was up 8.1%, Fixed Income was up 2.0%, and the Absolute Return asset class was up 3.9%, all net of fees. The pandemic continued to weigh on Real Estate, which reported a return of -1.4%, net of fees, in the second quarter of 2020, which is the most recent quarterly data available. The market value of the Fund on September 30, 2020 totaled approximately $5.08 billion, and the YTD return was -3.9%, net of fees.
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Other recent news can be found on the most recent newsletter.
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Last Update: 11/19/2020