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El Paso retirement trust posts fiscal‑year‑to‑date 8.1% return; trustees approve $10 million rebalancing into cash
Summary
Kellen LLC reported a fiscal‑year‑to‑date return estimate of 8.1% through June, driven by public markets and a rebounding private equity program. Trustees approved a $10 million rebalancing—moving ACWI ex‑U.S. index exposure into the cash account to meet near‑term needs.
Kellen LLC presented the trust’s monthly investment performance through June 2025 and trustees approved an asset rebalancing plan to raise cash for near‑term needs during the City of El Paso Employees Retirement Trust meeting on July 16.
Kellen reported a fiscal‑year‑to‑date estimated return of about 8.1% through June, exceeding the trust’s actuarial discount rate target of 7.25%. The firm said strong market returns—particularly in U.S. equities and a recovery in private equity valuations—drove the improvement since the first quarter, when the trust’s fiscal‑year‑to‑date return was roughly 0.49%.
Kellen highlighted several…
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