Investment Philosophy
 
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SBERA Investment Options
SBERA’s investment accounts are professionally managed and monitored closely by our Investment Committee and Board of Trustees. Each option offers varying degrees of reward and risk. Participants are urged to review the descriptions carefully before making selections, but should be aware that consistently timing market changes is extremely difficult even for professional investment managers. Of the options currently available to participants, only the Money Market Account guarantees principal. The other options are subject to market risk and may increase or decrease in value depending upon performance of assets held in those portfolios.

Please see the SBERA Investment Guide for additional information on the various investment accounts.  In addition, weekly, quarterly and annual fund performance is available on www.sbera.com.
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Money Market Account – Provides income consistent with preservation of principal. SBERA's Investment Policy Statement requires the Money Market Account to be invested exclusively in U. S. Treasury or other obligations guaranteed by the U. S. Government or its agencies. All securities in this account must have a maturity of six (6) months or less. (View Fact Sheet)
Bond Account – Aims to match the performance of the Barclay's Capital Aggregate Bond Index, the most widely recognized benchmark for U. S. debt. The Index measures the performance of the total universe of U. S. government and other investment-grade fixed income debt, such as corporate and international dollar-denominated bonds, mortgage-backed and asset-backed securities. (View Fact Sheet)
Equity Account – Seeks long-term growth of capital and income by investing in common stocks of domestic and foreign companies. The account is managed by eight investment advisors, each with a different investment mandate. (View Fact Sheet)
Large Cap Value Account- The Large Cap Value Account investment philosophy combines detailed fundamental research, bottom-up stock selection, portfolio construction, and disciplined management of portfolio volatility to achieve strong risk-adjusted returns over full market cycles. (View Fact Sheet)
Index 500 Account – Aims to duplicate the investment results of the Standard and Poor’s 500 Index by holding all 500 stocks in relatively the same proportions as does the S & P 500 Index. This is often referred to as "complete replication". (View Fact Sheet)
International Equity Account – The objective is to obtain long-term capital growth through a diversified portfolio of marketable equity securities of foreign companies. The performance objective is to out-perform the EAFE Index over a market cycle. (View Fact Sheet)
Small Cap Value Account – A domestic common stock portfolio comprised of value-oriented stocks whose sector weights are relatively similar to those of the Russell 2000 Index. (View Fact Sheet)
Small Cap Growth Account – Investment objective is capital appreciation through investment in the common stock of high-quality emerging companies with superior earnings, growth expectations and attractive stock market valuations. (View Fact Sheet)
Employer Stock Account – The Employer Stock Account offers participants access to a fund that consists primarily of the common stock of their employer-member bank. The fund maintains a relatively small position in a money market account to accommodate liquidity.
LifePath Accounts - The LifePath series are designed to be complete investment solutions for individuals. Each LifePath strategy is a broadly diversified portfolio, designed for both a particular risk tolerance and when the money will be needed. The LifePath series include LifePath 2055, 2050, 2045, 2040, 2035, 2030, 2025, 2020 and LifePath Retirement. The number, as in LifePath 2020, represents the approximate year when you plan to start withdrawing your money. As time goes by, the investment managers gradually adjust the portfolio's mix to compensate for the level of risk that is appropriate for the number of years before account drawdown. LifePath Retirement is for those already in retirement and withdrawing funds.
Large Cap Growth Account - INTECH strategies attempt to provide consistent upside potential combined with downside protection. They believe that they can add value using natural stock price volatility through a mathematically based risk controlled process. INTECH's mathematical investment strategies have produced excess returns net of fees since the inception date. (View Fact Sheet)
All Asset Account - The objective of the All Asset Account is to produce returns which are 5% above the Consumer Price Index (CPI).  The strategy is designed as a "fund of funds" that allocates its assets among a group of PIMCO funds.  The All Asset Account rebalances among the funds as real return values shift in the market. (View Fact Sheet)
The SBERA Account - The SBERA Account is designed to provide results that parallel the performance of the SBERA Defined Benefit Plan Assets.   Given this objective, the Account is expected to provide investors with long-term growth of capital and income.  The SBERA Account provides investors with great diversification and significantly less risk than a more concentrated portfolio. (View Fact Sheet)
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