PERS portfolio roughly flat fiscal year to date amid April volatility; staff urges sticking to long‑term allocation

The Public Employees Retirement System of Mississippi’s (PERS) investment staff and consultant Callan told the system’s Investment Committee on May 20 that the total fund was up about 1% fiscal year to date as of the close the prior day but had suffered an April decline of a little over 3%. The committee heard that the fund’s diversified allocations have limited losses relative to some U.S. benchmarks and that payment flows and rebalancing decisions affected the quarter’s net market value.

The presentations matter because PERS must balance near‑term market swings against its long‑term liability schedule; trustees were asked to keep perspective on volatility while staff continues to follow the system’s strategic allocation and rebalancing policy.

Staff opened the discussion by noting the portfolio’s estimated fiscal‑year performance and by urging trustees not to “lose perspective” amid change and volatility. Callan’s representative, John Jackson, reviewed quarter‑end data showing total fund assets of about $33.9 billion as of March.…