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SFERS reports strong market gains, asks for new positions to manage alternative investments
Summary
Jay Huish, executive director of the San Francisco Employees' Retirement System, reported market value assets rising past $19 billion through April, described the system's funding goals and requested new investment and administrative staff to support alternative equities, hedge funds and real assets.
Jay Huish, executive director of the San Francisco Employees' Retirement System, briefed the Budget and Finance Committee on membership trends, funding levels and staffing requests tied to a recent asset-liability study.
Huish said SFERS' active membership exceeded 60,000 for the first time and that the system serves just under 35,000 active employees alongside more than 26,000 retirees. He reported market value assets of just under $12 billion at the end of the 2008–09 downturn, rising to about $17 billion at the end of a recent fiscal…
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