Sunday, August 4, 2013 – 11:00 p.m.

The employee pension fund for San Bernardino County, California turned in a much needed investment performance for it’s fiscal year ending June 30, 2013.

San Bernardino County Employees Retirement Association (SBCERA), has reported that it earned an investment return of 15.4% for the period July 1, 2012 through June 30, 2013.

A return better than both the California Public Employees Retirement System (Calpers) and California State Teachers Retirement System (Calstrs).

While SBCERA remains significantly underfunded, the recent performance helped slow the bleeding. However, the 5-year annualized return was just 3.3%, and the 10-year at 7.1%. Both below the funds actuarial target of 7.75%.

Fund assets climbed to a record $7.061 billion.

Congratulations to the funds management team!