CAFR - Fairfax County Public Schools

Educational Employees’ Supplementary Retirement System of Fairfax county
Interim Strategic Target Allocation
The asset structure shown below represents
the Trustees’ assessment of their optimal asset
allocation as of June 30, 2012. This interim
strategic allocation provides a reasonable
expectation that the fund’s investment objective
can be achieved based on historic relationships
of asset class performance.
The table below provides a comparison between
the target asset mix, consistent with the
achievement of the long-term objective of the
fund, and the actual asset allocation as of
June 30, 2012.
Real Estate 7.5%
Private
Equity 1.5%
Small Cap Equity 6.0%
Large Cap Equity 16.0%
Fixed Income 29.0%
Absolute Return 8.0%
International Equity 17.0%
Global Asset Allocation/Better Beta 15.0%
security Class
Asset Structure
Actual Asset Allocation
as of June 30, 2012
The asset structure of ERFC has historically
reflected a proper balance of the fund’s needs
for liquidity, growth of assets, and risk tolerance.
The fund’s investment policy is designed to
continue to meet its long-term investment
objectives while, at the same time, provide
increased flexibility to meet short-term funding
requirements.
inTERiM sTRaTEGiC TaRGETs aCTual assET alloCaTion
Real Estate 7.8%
Private
Equity 0.9%
Small Cap Equity 6.4%
Large Cap Equity 16.4%
Fixed Income 28.9%
Absolute Return 7.6%
interim strategic Targets
as of June 30, 2012
International Equity 16.3%
Global Asset Allocation/Better Beta 15.7%
actual asset allocation
as of June 30, 2012
Domestic Large Cap Equity 16.0 % 16.4 %
Domestic Small Cap Equity 6.0 6.4
International Equity 17.0 16.3
Real Estate 7.5 7.8
Fixed Income 29.0 28.9
Global Asset Allocation/Better Beta 15.0 15.7
Absolute Return 8.0 7.6
Private Equity 1.5 0.9
Cash — —
Total 100.0% 100.0%
41 INVESTMENT SEcTIoN
INVESTMENT