Pennsylvania Public School Employees' Retirement System, Harrisburg, reported a preliminary net return of 2.3% for the fiscal year ended June 30, a news release said Thursday.
The $75.8 billion pension fund also reported annualized net returns of 8.8%, 8.5% and 7.9%, respectively, for the three, five and 10 years ended June 30.
The pension fund had returned a net 24.6% for the fiscal year ended June 30, 2021.
For the most recent fiscal year, PennPSERS chalked up the sixth-highest return among the 82 U.S. public pension funds whose returns for the year ended June 30 were tracked by Pensions & Investments as of Thursday. The median return among those pension funds is -4.9%.
For the year ended June 30, the Russell 3000 index and Bloomberg U.S. Aggregate Bond index returned -13.9% and -10.3%, respectively, in sharp contrast to returns of 44.2% and 4.6% for the year ended June 30, 2021.
"Given the market turbulence over this past fiscal year, I am extremely proud of PSERS returns and the associated hard work and planning by all involved in the investment process," said Robert Devine, PennPSERS interim chief investment officer, said in the news release.
Benchmark information, returns by asset class and asset allocation information as of June 30 were not yet available. The news release said the final performance reports should be completed by the end of the month.
