Clerk we have a quorum. I will read the Covid19 Health Emergency and given the public health recommendations issued by the San Francisco department of public health, the governor and the mayor have listed these restrictions on teleconference. This meeting is being held virtually with all members of staff and public participating via teleconference [indiscernible] while this technology allows us to hold these meetings via teleconference, this is not as [indiscernible] as we would like to be. A reminder to the Board And Staff to mute themselves when not providing comment to minimize background noise. Chair thank you very much. Item 2. Clerk item 2, communications. Due to the covid19 emergency, the San Francisco Retirement System is closed. Members will be participating in the meeting remotely. ThiS Precaution is taken pursuant to the various local and state orders. Members will attend this meeting through Video Conference and participate in the meeting to the same extent as if they were
Thank you very much. Would you call Roll Call and after Roll Call read the admonishment to the group. [ Roll Call ] clerk we have a quorum. I will read the Covid19 Health Emergency and given the public health recommendations issued by the San Francisco department of public health, the governor and the mayor have listed these restrictions on teleconference. This meeting is being held virtually with all members of staff and public participating via teleconference [indiscernible] while this technology allows us to hold these meetings via teleconference, this is not as [indiscernible] as we would like to be. A reminder to the Board And Staff to mute themselves when not providing comment to minimize background noise. Chair thank you very much. Item 2. Clerk item 2, communications. Due to the covid19 emergency, the San Francisco Retirement System is closed. Members will be participating in the meeting remotely. ThiS Precaution is taken pursuant to the various local and state orders. Members
Thank you. thank you. We have a quorum. at this time are there any communications. Item Number two, communications. Due to the covid 19 Health Emergency and to protect members, the Retirement System is closed. Other members participating in the meeting remotely this is taken in precaution to the State Order and directives. Members participating via Video Conference as if they were physically present. Public comment will be available on each item on the agenda. You will be given two items to speak. When connected you will hear the meeting discussions but be muted and in listening mode only. When your item of interest comes up Press Star three. Best practices are to call from a quiet location, speak clearly and slowly and turn down your tv or radio. thank you very much. Is there any public comment . moderator, do we have any callers on the line. Madam Secretary, there are no callers on the line. thank you. Hearing no calls, public comment is now closed. call the next item, please. action
Take Roll Call. Roll Call . thank you. thank you. We have a quorum. at this time are there any communications. Item Number two, communications. Due to the covid 19 Health Emergency and to protect members, the Retirement System is closed. Other members participating in the meeting remotely this is taken in precaution to the State Order and directives. Members participating via Video Conference as if they were physically present. Public comment will be available on each item on the agenda. You will be given two items to speak. When connected you will hear the meeting discussions but be muted and in listening mode only. When your item of interest comes up Press Star three. Best practices are to call from a quiet location, speak clearly and slowly and turn down your tv or radio. thank you very much. Is there any public comment . moderator, do we have any callers on the line. Madam Secretary, there are no callers on the line. thank you. Hearing no calls, public comment is now closed. call t
Negative Cash Flow which puts youunder a healthy state. If you were to divide that Cash Outflow of 500 million, its around 1 and a Half Percent for most plans. Thats from 1 to 3 so you comfortably have deficient liquidity to be able to invest in the less liquid private Market Asset classes which are produced extraordinarily higher returns so again, nothing on this page ofconcern. The next two pages go through more detail. Your rankings against your pur group. If we start on page 23, the one your results, each point in that chart is a public fund greater than 1 billion. They are plotted on the verticalscale in terms of return. On the horizontal tail in terms of tenderdeviation. San francisco is the green square so as we noted early, a Performance Result slightly before medium and look at that level of that line, its 30 percent. So extraordinary performance but below median in arising market. Substantially lower risk than appeared group which we said earlier. The black triangle is your P