Oct. 30, 2019
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Public School Employees’ Retirement System
PSERS CIO named one of the world's Top 20 investment professionals of 2019
HARRISBURG, PA – Jim Grossman, chief investment officer of the Pennsylvania Public School Employees’ Retirement System, has been named one of the world’s Top 20 investment professionals of 2019 by a leading industry publication.
Grossman placed 18th in Chief Investment Officer’s 2019 Power 100 rankings, which was released Tuesday. It’s the magazine’s 8th annual report. The rankings scored professionals for their “innovation and influence, collaboration, talent development, fund size and tenure.” The rankings are meant to recognize financial stewardship of public and private pension funds, endowments and sovereign wealth funds in 2019, which has experienced turbulent markets due to trade and Brexit disputes, slowing economic sectors, and low and negative interest rates, among other factors.
“For the eighth edition of the Power 100, we laud the asset owners who have distinguished themselves in navigating a changing, and often perilous, market landscape,” the magazine said. “Come 2020, the ground surely will continue to shift beneath their feet, as they balance opportunity and prudence to deliver first-rate returns.”
Grossman has been an investment professional with PSERS since 1997 and has led the investment office since 2014. Under his direction, PSERS has diversified the fund’s $59 billion portfolio to limit equity risk exposure while not sacrificing overall fund performance. PSERS also has been an industry leader in financial transparency, crafting a plan to save $2 billion in fees to outside managers, implementing the Institutional Limited Partners Association’s investment fee reporting standards, and compiling carried interest profit sharing reports.
“The recognition and ranking is really a tribute to the whole team at PSERS,” Grossman said. “In my travels, I continue hearing very good things about the entire team. It’s a tribute to their professionalism and commitment to the organization and mission.”
Added PSERS Executive Director Glen Grell: “Jim holds a very challenging position that is not immune from criticism that can be unfair and unwarranted. So it’s really nice to see Jim’s innovative leadership being recognized by his worldwide peers who truly understand the daily rigors of investment work.”
PSERS’ net investment performance summary for the periods ended June 30, 2019 were: 1 year at 6.68%; 3 Years at 8.71%; 5 Years at 6.04%; 10 Years at 9.02%; 25 Years at 8.08%; and 30 Years at 8.25%.
About the Pennsylvania Public School Employees' Retirement System
PSERS was founded in 1917 to oversee a statewide defined benefit pension plan for public school employees. PSERS’ role expanded in 2019 to include oversight of a new defined contribution plan. PSERS membership covers about 256,000 active and 233,000 retired school employees.