Pension fund reports third straight year of double-digit investment gains, but falls short of benchmark.
Tag: Pennsylvania State Employees Retirement System
The top two positions at the $39 billion pension fund have turned over in less than half a year.
New CIO Seth Kelly is hiking the fund's asset allocation to fixed income.
Pension board also approves reduction in assumed rate of inflation to 2.5%.
Board approves nearly $300 million in private equity, multi-strategy investments.
Board also reallocates $1 billion within its portfolio.