The Pennsylvania Public School Employees’ Retirement System announced at its May 23 board meeting that it had achieved a 5.86% return in the fourth quarter of 2023, the midway point of the fund’s 2023-2024 fiscal year.
In calendar year 2023, the fund returned 8.62%.
The PPSERS board also approved allocations to three managers. The fund approved the recommendation of the investment committee to make a commitment of 150 million euros ($163 million) to ICG Europe –Mid-Market Fund II, $300 million to Carlyle Reality Partners X and $300 million to CION Grosvenor Infrastructure Interval Fund.
The board also approved engaging BNY Mellon as PSERS’ securities agent, according to a news release from the pension fund.
PPSERS provides retirement and healthcare benefits to more than 500,000 beneficiaries. As of June 30, 2023, the fund had $72.8 billion in assets under management. The fund also produced annualized three, five, 10, 15 and 20-year returns of 6.80%, 8.40%, 7.17%, 8.12%, and 7.05%, respectively.
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Tags: Pennsylvania, Pensions, PSERS, Tags: Pennsylvanie Public School Employees’ Retirement System