Quarterly Investment Report

June 2006 ACERA Asset Allocation

ACERA PORTFOLIO ASSET ALLOCATION & PERFORMANCE
ASSET CLASS QUARTER MARKET VALUE % OF PORTFOLIOQUARTERLY PERFORMANCE
         
DOMESTIC EQUITY Sep-05 $1,740,393,067.00 38.80 % 3.70 %
  Dec-05 $1,771,668,502.00 38.50 % 2.60 %
  Mar-06 $1,831,876,608.00 38.30 % 4.60 %
  Jun-06 $1,985,799,155.00 41.80 % -2.50 %
         
INTERNATIONAL EQUITY Sep-05 $1,149,759,382.00 25.60 % 11.20 %
  Dec-05 $1,220,465,128.00 26.50 % 6.20 %
  Mar-06 $1,319,470,629.00 27.60 % 8.10 %
  Jun-06 $1,126,141,153.00 23.70 % 0.60 %
         
FIXED INCOME Sep-05 $1,317,319,782.00 29.40 % 0.30 %
  Dec-05 $1,369,816,310.00 29.80 % 0.60 %
  Mar-06 $1,372,440,781.00 28.70 % 0.20 %
  Jun-06 $1,365,217,654.00 28.80 % 0.40 %
         
REAL ESTATE Sep-05 $276,712,665.00 6.20 % 2.00 %
  Dec-05 $237,049,311.00 5.20 % 5.00 %
  Mar-06 $249,126,457.00 5.20 % 4.10 %
  Jun-06 $233,376,956.00 4.90 % 4.80 %
         
CASH Sep-05 $168,863.00 0.00 % 1.00 %
  Dec-05 $574,751.00 0.00 % 1.00 %
  Mar-06 $9,642,432.00 0.20 % 0.90 %
  Jun-06 $37,109,002.00 0.80 % 0.80 %
TOTAL ASSETS
  Sep-05 $4,484,353,759.00 100 % 4.40 %
  Dec-05 $4,599,574,002.00 100 % 3.10 %
  Mar-06 $4,782,556,907.00 100 % 4.20 %
  Jun-06 $4,747,643,920.00 100 % -0.40 %

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