Updating your browser will give you an optimal website experience. Learn more about our supported browsers.

How TCDRS Reports Performance

At TCDRS, we’re constantly monitoring our investments. All of our investment performance is reported net of all investment fees.

Quarterly
TCDRS reports performance at the end of each calendar quarter. Results for the private asset classes (private equity, distressed debt, direct lending and private real estate) are included on a one-quarter-lagged basis because results are not available until two months following quarter end. This is consistent with performance reporting by other institutional investors.
Annual
In conjunction with the preparation of TCDRS’ Comprehensive Annual Financial Report, performance of the portfolio at the end of each calendar year is reported for all asset classes as of Dec. 31. The annual performance report is typically available in early June of the following year. All of the annualized returns shown in the Our Results tool are based on annual performance reports.
Year to Date
The Year-to-Date Return shown in the Our Results tool reports the estimated performance for the year as of the end of each calendar month. Results for the private asset classes (private equity, distressed debt, direct lending and private real estate) are included on a one-quarter-end lagged basis because results are not available until two months following quarter end. This is consistent with performance reporting by other institutional investors.