PSERS’ real estate portfolio, which accounts for 6.7 per cent of fund, returned 7.70 per cent for the second quarter of last year and 25.17 per cent for the entire year. Mr Van Noord says this exceeds the NCREIF index, which returned 3.42 per cent and 12.41 per cent over the same time frame.
The pension fund’s alternative investment returns, mainly derived from private equity and venture capital allocations, were 5.54 per cent for the second quarter and 21.60 per cent for the year period. This compares with the Venture Economics benchmarks of 0.27 per cent and 5.25 per cent for the same time period.
PSERS’ property managers include Charter Oak Advisers, GE Management and Legg Mason. The fund has private equity and venture capital partnerships with firms such as ABS Capital, Blue Point Capital and Evergreen Pacific Partners.
PSERS ASSET BREAKDOWN:
Source: PSERS
PSERS’ PORTFOLIO DISTRIBUTION AS OF 31/12/04 (UNAUDITED):
Source: PSERS
