The Pennsylvania Public School Employees' Retirement System, Harrisburg, reported a 25.1% return on investments for 2003 and 9.5% for the quarter ended Dec. 31. The $47.3 billion pension fund's domestic equity portfolio returned 32.2% for the 2003 calendar year and 12.6% for the quarter ended Dec. 31; the international equity portfolio returned 39.8% for the year and 16.7% for the quarter. Also, domestic fixed income returned 9.17% for the year and 1.83% for the quarter; global fixed income returned 14.44% for the year and 4.36% for the quarter; real estate, 16.74% for the year and 4.47% for the quarter; and alternatives, 9.47% for the year and 3.19% for the quarter.
As of Dec. 31, the fund's asset allocation was 44.4% domestic stocks, 19.3% international stocks, 18% domestic and international fixed income, 9.5% alternatives, 6.5% real estate and 2.3% cash.
