The PA State Employees’ Retirement System Thursday announced that the SERS fund generated nearly $1 billion in net-of-fees earnings, or a 3.7 percent return, during the first quarter of 2017.
For the one-year period ended March 31, 2017, the SERS fund returned 9.7 percent. SERS returned 7.4 percent and 8.4 percent over the trailing 20- and 30-year periods, respectively, ending March 31, 2017.
“SERS’ fund posted a gain of $989 million during the first quarter of 2017, which was marked by a broad rally across risk assets, driven largely by continued positive expectations for US fiscal policy,” said SERS Chief Investment Officer Bryan Lewis. “Strong absolute and relative performance during Q1 by SERS’ Global Equity and Fixed Income composites positively contributed to the fund’s long-term performance.”
SERS’ investment performance reporting, all returns are reported net of fees and alternative investments and real assets returns lag by one quarter.
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