PSERS starts 2014 with strong performance from real estate
Pennsylvania’s $51.4 billion Public School Employees’ Retirement System released its investment performance results for the quarter ended March 31, 2014, which saw the total fund add nearly $1.7 billion by returning 3.61 percent, with the $6.96 billion real estate portfolio among top performers, seeing a 6.19 percent return in the quarter alone.
“PSERS’ fiscal year ends on June 30, and we remain optimistic as the fund continues on track to post a positive fourth quarter as well,” said James H. Grossman, PSERS’ recently appointed chief investment officer, in a statement.
PSERS’ fiscal year-to-date investment performance has seen the pension fund earn 10.25 percent, beating its policy benchmark by 1.72 percent and adding approximately $790 million in value over the benchmark.
During the first quarter, the retirement system invested at least