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SURS Approves $50 Million Real Asset Commitment, Reports 17.9% Return for 2019

March 19, 2020 - 13:19
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Champaign, IL - The State Universities Retirement System (SURS) Board of Trustees on March 13 approved a commitment of $50 million to Crow Holdings Realty Partners Fund IX, subject to successful contract negotiations.

The board also voted to retain Bivium Capital to manage a global credit fixed-income manager of emerging managers program with funding from the complete transfer of the global credit fixed income portfolio currently managed by Progress Investment Management Company, subject to successful contract negotiations.

SURS investment team reported the portfolio returned 17.9% for calendar year 2019, net of investment management fees, slightly trailing the 18.3% policy benchmark return. When compared to a universe of other large public funds, the SURS return ranks in the 24th percentile for the one-year period, exceeding that of 76% of other large public plans in the InvestmentMetrics Public Funds > $1 Billion universe. SURS relative returns are strong for longer-term periods, as well. For the three- and five-year periods ending Dec. 31, 2019, SURS ranks in or near the top third of the universe, while the 10-year return places SURS in the top quartile (23rd percentile).

In other business, the board:

  • Approved the revised plan documents for SURS Self-Managed Plan (SMP) which will be renamed the SURS Retirement Savings Plan (RSP).
  • Approved plan documents for the new SURS Deferred Compensation Plan per PA 100-769.

SURS Approves $50 Million Real Asset Commitment, Reports 17.9% Return for 2019