The PA State Employees’ Retirement System Thursday reported the SERS fund generated nearly $1.9 billion in net-of-fees earnings, or a 7.1 percent return, during the first two quarters of 2017.
For the trailing 12 months, the system achieved an estimated 11.9 percent return net of fees.
“Strong performance from the Public and Private Equity asset classes contributed to the solid returns,” said SERS Chief Investment Officer Bryan Lewis. “We continue to focus on identifying and bringing to the board opportunities to invest in strategies that provide the highest opportunity of positive returns with an appropriate level of risk to meet our long-term, expected return.”
The mid-year returns are comparable to the annual July to June fiscal-year returns published by peer public pension systems. SERS reports on a calendar-year basis.
Final mid-year returns will be reported at SERS’ September 13 board meeting.
For more information, visit the PA State Employees’ Retirement System website.
