The Pennsylvania State Employees’ Retirement System reported 4.71% investment return in the third quarter during a December 9 board meeting. As of September 30, the fund has returned 11.29% year-to-date.
During both the third quarter and calendar-year-to-date, emerging markets equities were the fund’s best-performing assets—returning 10.82% in Q3 and 26.90% YTD. U.S. equities, in comparison, returned 8.4% and 14.8% for the periods, respectively, while international developed markets equities returned 4.68% in Q3 and 23.07% YTD.
All other asset classes in the Penn SERS portfolio saw single-digit returns in the third quarter and year-to-date. Real estate reported a 0.27% loss in Q3, 1.62% YTD. It was the fund’s worst-performing asset class.
In fiscal 2025, which ended June 30, the pension fund posted returns of 10.96%. As of June 30, the fund managed $40.42 billion in assets.
At the December 9 meeting, the PSERS board approved a $65 million commitment to Boston Venture Investment Partners’ Fund XII, a new manager for the pension fund and an investment made within the private equity asset class. BVIP invests in tech-enabled business services and IT solutions.
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