Pennsylvania Public School Employees’ Retirement System, Harrisburg, returned 20.4% in the fiscal year ended June 30, confirmed spokeswoman Evelyn Tatkovski.
It is the $51.4 billion system’s highest return since fiscal 2007, when it returned 22.9%. The system’s previous high was 21% for fiscal year 1986.
Much of the gain was attributed to strong growth in equities and commodities, according to a system news release. U.S. equities had the strongest performance of all asset classes, with a one-year return of 32.7%, followed by commodities at 31.8%; non-U.S. equities, 30.4%; real estate, 20.2%; private markets, 18.6%; global fixed income, 14.4%; absolute return, 13.2%; and U.S. fixed income, 11.6%.
As of June 30, the system’s actual asset allocation was U.S. fixed income, 16.4%; private equity, 15.2%; non-U.S. equity, 14.7%; U.S. equity, 11.8%; real estate, 10.6%; absolute return, 10.3%; cash and cash equivalents, 8.1%; commodities, 4.6%; private debt, 3.9%; global fixed income, 2.7%; and venture capital, 1.7%.