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August 2018 “From the CEO” Report

July begins another fiscal year, and I am excited when I look back on all of SDCERA's FY 2018 accomplishments and the goals we have set for FY 2019.

The  Investment  team  had a great  FY  2018, with a preliminary investment return of  7.9  percent.  As of
July 31, SDCERA's assets under management were $12.9 billion, an all-time high. On July 3, the County deposited an advance of $511 million in SDCERA's account to meet the County's required FY 2019 employer pension contribution.

FY 2018 investment returns coupled with the County's FY 2019 employer pension contribution are good news for our Members. Additional efforts to align investment manager fees with actual performance continue to save SDCERA the Trust Fund, millions of dollars of investment fees annually, which will compound for decades.

On behalf of their Board colleagues and SDCERA's Membership and staff, SDCERA thanks Dianne and Dave for demonstrating the positive impact of an individual to make an organization great.

To read my most recent Report to the Board of Retirement, click here.