Pennsylvania State Employees Retirement System, Harrisburg, returned 13.5% on its investments for the year ended June 30, according to Robert Gentzel, spokesman. The $27 billion system's actuarial assumed rate of return was 8.5%. For calendar year 2004, the system earned 15.1% on its investments and it has gained 3.9% through the first six months of this year.
Among the system's investment portfolios: private equity investments had the highest return for the year ended June 30 at 16.3%, commodities returned 13.8% and real estate earned 9.6%. PennSERS' asset allocation as of March 31, the latest date available, was 34.9% domestic equities, 20.6% international equities, 16.4% fixed income, 7.4% "inflation protected" investments, 9.3% private equity, 7.8% real estate, 3% venture capital and 0.6% cash.