The Mississippi Public Employees Retirement System (PERS) has reported strong performance in its investment portfolio, with a total value gain of $1.45 billion since its inception in 2009. During a meeting held on June 24, 2025, investment committee members discussed the portfolio's growth, which has transformed an initial investment of $2 billion into a total of $3.5 billion, reflecting a return of 1.7 times the original investment.

The committee highlighted that the mature portfolio is now effectively self-funding, with $255 million returned to PERS last year while new investments drew down $110 million. This self-sustaining model is expected to continue, allowing the system to meet its benefit obligations.

The investment strategy has focused heavily on North American markets, with significant allocations in sectors such as industrials, consumer goods, technology, healthcare, and financials. The committee noted that while the overall performance has been strong, some recent investments, particularly in consumer sectors, have faced challenges due to COVID-19 impacts, leading to a slight degradation in returns over the past few years.

In addition to discussing overall portfolio performance, the committee reviewed specific series of investments, noting that the 2014 series has performed particularly well, with a net return of 15% annually. The 2018 series is still in its early stages but shows promise with gains already reported.

The meeting also introduced a new allocation strategy involving co-investments, which allows PERS to invest directly alongside sponsors in underlying companies. This approach is expected to reduce fees and enhance returns, with an initial net internal rate of return of 24% reported for this portfolio.

As the meeting concluded, committee members expressed satisfaction with the current investment strategies and the overall health of the portfolio, emphasizing the importance of maintaining strong performance to support the retirement benefits of Mississippi's public employees. The PERS continues to adapt its investment strategies to navigate market challenges while aiming for sustainable growth in the future.