APPENDIX B. BENCHMARKS Effective April 28, 2016 Custom Blended Benchmark Global Equity Global Public MSCI ACWI IMI ($net) Global Low Volatility Equity MSCI ACWI Minimum Volatility ($net) Hedged Equity HFRI -Equity Hedge (Total) Index +3% Private Equity Russell 3000 Risk Reduction Mitigation Custom Blended Benchmark & Core Fixed Income Barclays U.S. Aggregate Global Core Fixed Income Barclays Global Aggregate Cash 3Month Treasury Credit Oriented Income Custom Blended Benchmark Liquid Credit Barclays Global High Yield Emerging Market Debt JP Morgan EMBI Global Diversified ($) l% Illiquid Credit Barclays Global High Yield + Credit Oriented Hedge Funds HFRI Credit Index Real Assets Custom Blended Benchmark Liquid Real Estate Wilshire Global Real Estate Securities Illiquid Real Estate NCREIF ODCE + 1% Liquid Real Assets Alerian MLP index Illiquid Real Assets Cambridge Natural Resources Index Market Neutral Hedge Funds/Risk Premia LIBOR + 2%
APPENDIX B. BENCHMARKS Effective April 28, 2016 Global Equity Custom Blended Benchmark Global Public MSCI ACWI IMI ($net) Global Low Volatility Equity MSCI ACWI Minimum Volatility ($net) Hedged Equity HFRI -Equity Hedge (Total) Index Private Equity Russell 3000 +3% Risk Reduction & Mitigation Custom Blended Benchmark Core Fixed Income Barclays U.S. Aggregate Global Core Fixed Income Barclays Global Aggregate Cash 3Month Treasury Credit Oriented Income Custom Blended Benchmark Liquid Credit Barclays Global High Yield Emerging Market Debt JP Morgan EMBI Global Diversified ($) Illiquid Credit Barclays Global High Yield + l% Credit Oriented Hedge Funds HFRI Credit Index Real Assets Custom Blended Benchmark Liquid Real Estate Wilshire Global Real Estate Securities Illiquid Real Estate NCREIF ODCE + 1% Liquid Real Assets Alerian MLP index Illiquid Real Assets Cambridge Natural Resources Index Market Neutral Hedge Funds/Risk Premia LIBOR + 2%
NM-PERA-Request-for-Proposals-for-Passive-Currency-Hedging-Services.docx