PSRS/PEERS Ranked 44th Largest Among U.S. Retirement Funds
The Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS) have moved up on Pension & Investments magazine’s list of the 1,000 Largest U.S. Retirement Funds. The rankings are part of a special report done each year and are based on each fund’s total plan assets for a period of 12 months ending September 30.
This year, PSRS/PEERS is ranked as the 44th largest, up from 46th the previous year. The move came during a time when large public investors around the country experienced record-high asset losses amid extremely volatile investment markets.
While PSRS/PEERS was not immune to the negative effects of this historically difficult time for investors, the Systems’ well-diversified portfolio benefited from investments to alternative asset classes.
Investment staff began building alternative investment programs in 2003 to provide diversification from stocks and bonds and take advantage of market inefficiencies.
"We did not necessarily anticipate the market downturn," said PSRS/PEERS Chief Investment Officer Craig Husting. "However, we have maintained an investment belief that the best long-term risk-adjusted returns can be achieved by investing in the broadest opportunity set possible. Our asset allocation is balanced with a significant distribution to return-seeking assets such as stocks and private equity, but also a healthy allocation to more defensive investments such as Treasury securities, cash and hedged assets.” He added, “Our goal is to maintain a structured portfolio that has an opportunity to participate if the markets move higher, but also has substantial downside protection in the event of a market correction."
The market value of invested assets for PSRS and PEERS combined was approximately $53.5 billion on June 30, 2022, making the joint entity larger than all other public retirement plans in Missouri combined.