S
acramento County Employees' Retirement System (SCERS) has extended its partnership with The Townsend Group as real estate investment consultant for another two years. According to the pension fund's board meeting document, this decision was made recently.

    The system's current real estate portfolio is valued at $920m, accounting for 6.7% of its total investments, which falls short of its target allocation of 8%. However, it has exceeded its core asset target with 65% of the portfolio invested in this sector, surpassing the 60% goal.

    SCERS still needs to increase its investment in non-core assets, as only 35% is currently allocated compared to a target of 40%. Additionally, the pension fund's international investments are also under-allocated at 29%, against a target of 35%.