US - Pennsylvania's Public School Employees Retirement System (PSERS) posted a 4.23% return for the quarter and an 18.09% return for the nine month fiscal year-to-date ended March 31, 2011.
For the one-year, five-year and ten-year periods ended March 31, 2011, PSERS returned 15.93%, 3.45% and 6.53% respectively. The annualised 25 year return through March 31, 2011, is 8.82%, which exceeds the assumed long-term actuarial investment rate of return for the same period.
PSERS Chief Investment Officer Alan Van Noord said: "Strong returns from US equities and commodities greatly benefitted PSERS during this past quarter. PSERS added net investment income of $7.9bn to the fund for the nine month fiscal year-to-date period ended March 31, 2011.
"As a result, the fund remains on track to post another positive fiscal year return above the fund's assumed rate of return assumption of 8%. Although the fund continues to slowly recover from the recent recession, PSERS continues to closely monitor conditions as unemployment remains high and commodity inflation remains a concern."
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