Skip To Content
The City of Milwaukee Pension Fund had a return of 0.7%, net of fees, in the second quarter of 2024. This return underperformed the Fund’s blended benchmark by approximately 1.5%. The quarter got off to a rocky start, as inflation numbers continued to be slightly higher than expected, which pushed back rate cut expectations. Lower inflation reports toward the end of the quarter allowed the market to settle on expectations for a rate cut in September. AI companies continued to lead the stock market, which meant US Large Cap growth stocks performed well, while small cap and international stocks trailed. Against this backdrop, the Fund’s public equity allocation was essentially flat, net of fees, for the quarter. The Fund’s fixed income allocation gained 0.3%, net of fees, as interest rates fell toward quarter end. The Fund’s absolute return allocation was up 1.7%, net of fees. As of June 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 June 30, 2024 totaled approximately $5.90 billion.
You are a member of the ERS, and membership has its privileges. One of those privileges is access to the portion of our website that is all about you. We call it ERS Member Self Service. Click here for more details.
Other recent news can be found on the most recent newsletter.
Other important information can be found on our Frequently Asked Questions page.
Last Update: 8/20/2024