The $27.6 billion Pennsylvania State Employees’ Retirement System reported a 3.3 percent return for the second quarter of 2017, resulting in a 7.2 percent net-of-fees return on investments, according to a news release from the pension fund.
The return added nearly $1.9 billion in earnings to the SERS fund during the first half of 2017. For the one-year period ended June 30, 2017, the SERS fund earned 12 percent net of fees.
“Strong performance from the public and private equity asset classes contributed to the solid returns,” said Bryan Lewis, SERS’ CIO.
Returns by asset class for the year ending June 30 include global public equity (12 percent return), private equity (4.5 percent), real estate (0.8 percent), hedge funds (0.8 percent), fixed income (1 percent), and cash (0.6 percent).
PSERS also made commitments to three real estate funds, totaling $500 million.
The first commitment was up to $300 million to Blackstone Property Partners to
