Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board reviews investment performance, asset‑allocation progress; securities‑lending program reports $3.75M net revenue for FY2025
Summary
Wilshire and staff reviewed quarterly performance, attribution and progress toward the board’s 2024 strategic asset allocation; staff reported securities‑lending net revenues of $3,750,000 for fiscal 2025, ~$7 billion of lendable securities and ~30% utilization, and the CIO read into the record a $50 million GEN 9 LP real‑assets commitment closed on Jan. 9, 2026.
Wilshire and staff presented the quarterly investment performance package for the period ending Sept. 30, 2025 and discussed implementation of the strategic asset allocation approved in 2024. Key takeaways:
Performance and attribution: The portfolio’s 10‑year annualized return was presented as strong relative to the discount rate and peer universe, though the total fund underperformed its policy benchmark over the three‑year horizon. Staff and Wilshire explained most of the multi‑year relative shortfall stems from private‑equity benchmarking effects and private‑equity underperformance versus public markets (private equity accounted for roughly 7.4 percentage points of the attribution shortfall in the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
