San Diego City Employees Retirement System鈥檚 (SDCERS) real estate investment plan for the fiscal 2022 year includes making non-core investments and trimming its portfolio through asset sale and redemptions.
For the new financial year starting on 1 July, SDCERS intends to make $70m (鈧�59.3m) worth of non-core real estate commitments, according to the pension fund鈥檚 meeting document.
Part of the $9.7bn pension fund鈥檚 investment strategy will be to explore investments into niche sector funds like cold storage, life sciences, data centres, and single-family residential in the US as well as some overseas industrial fund investments. SDCERS also plans to top-up its commitment to 鈥渉igh conviction managers鈥�.
To help trim parts of its real estate portfolio, SDCERS will be selling the last two assets 鈥� worth $26m 鈥� in a separate account managed by .
SDCERS also plans to remain in the exit queues in the Trumbull Property Fund and the Core Property Trust funds, in which the pension fund has $40.8m and $39.2m respectively.
SDCERS intends to monitor its investments in core debt funds with the possibility of some redemptions to keep the investor within its 15% policy limit for this sector.
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