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Investors - MARCH 15, 2019

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Pennsylvania’s PSERS posts investment return rebound to 8% for 10-year period

by Jody Barhanovich

The Pennsylvania Public School Employees’ Retirement System (PSERS) has announced the fund's post–Great Recession investment strategies are working in the current volatile markets. PSERS achieved an 8.0 percent return for the 10-year period that ended Dec. 31, 2018, exceeding its long-term investment earnings target of 7.25 percent by 0.75 percent.

Much of the fund's performance since the Great Recession is attributed to public and private equities, and private credit investment policy decisions made a decade ago according to PSERS CIO James Grossman Jr.

“Our 10-year performance improved due to the fading impact of the Great Recession on the 10-year return. PSERS’ former asset allocation had more equity risk than our current, more diversified portfolio. PSERS’ current asset allocation is better situated to weather volatility in the equity markets, generate returns which meet or exceed its 7.25 percent earnings assumption over the long term, and maintain a low

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