Pennsylvania PSERS earns 10.14% in fiscal year 2017

The Public School Employees’ Retirement System has posted a positive return of 10.14 percent for the fiscal year ended June 30, 2017, and earned $5 billion in investment income net of fees.

PSERS CIO, James Grossman Jr., explained during last Thursday's investment committee meeting, “This past fiscal year can be characterized as a ‘risk-on’ period where taking concentrated equity risk significantly paid off for those investors willing and able to take that level of equity risk. By taking less equity risk and managing a more diversified portfolio, PSERS is endeavoring to achieve its actuarial return target over time with less volatility in annual returns. While this past year’s market environment was not as favorable for our allocation relative to other investors that hold a higher equity allocation, PSERS still generated a solid fiscal year return well in excess of its 7.25 percent return assumption.”

PSERS’ top performing asset classes included U.S.