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PERS investment committee: $35 billion fund posts strong returns; staff notes diversification and manager changes
Summary
Investment advisers told the PERS investment committee the total fund stood near $35 billion at quarter end, with a one‑year return of 19.1% (18.7% net of fees). Consultants highlighted broad gains across asset classes, a recent hire in international small cap and the ongoing buildout of a private credit allocation.
PERS investment staff and external consultants briefed the investment committee on market conditions and fund performance through the quarter ending in September.
An external consultant presented a preliminary executive summary showing total fund assets about $35,000,000,000 at quarter‑end and an approximate one‑year return of 19.1% (18.7% net of fees). The consultant attributed the strong result to broad gains across asset classes, noting particular strength in fixed income and…
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