PSERS cuts private real estate allocation from 9% to 8% and ups REITs from 1% to 2%:
Pennsylvania Public School Employees Retirement System (PSERS) is slightly reducing its allocation to private real estate in favour of listed property securities to help improve diversification. In a board meeting document, the $56.7bn (€51.2bn) pension fund said it will cut its private real estate allocation from 9% to 8% and increase its allocation to real estate investment trusts (REITs) from 1% to 2%.