PERA invests in bonds primarily issued by U.S. and foreign governments, government entities, and corporations. The bonds that PERA owns are generally high quality, although PERA does have a modest exposure to emerging market and high-yield bonds. Bond investments represent an important source of interest income and cash flow for the Plan.

External Managers

  • BlackRock
  • HSBC Global Asset Management
  • MacKay Shields, LLC
  • Shenkman Capital Management, Inc.

PERA's Top Ten Bond Holdings by Fair Value as of December 31, 2016

(In thousands of dollars, does not include defined contribution plans or commingled funds)

  Par Value Bonds Fair Value

1.

$200,000

US Treasury Notes, 1.875%;
Due 10/31/2022

$197,344

2.

$174,328

GNMA Pool #MA4068, 3.000%;
Due 11/20/2046

$176,763

3.

$168,000

US Treasury Notes, 2.750%;
Due 2/15/2024

$173,512

4.

$165,000

US Treasury Notes, 2.625%;
Due 8/15/2020

$170,607

5.

$165,000

US Treasury Notes, 1.625%;
Due 7/31/2019

$166,154

6.

$145,000

US Treasury Notes, 1.375%;
Due 2/29/2020

$144,309

7.

$105,815

FNMA Pool #AL7936, 4.500%;
Due 9/1/2045

$114,823

8.

$105,000

US Treasury Notes, 1.375%;
Due 2/28/2019

$105,295

9.

$98,314

FHLMC Pool #G08669, 4.000%;
Due 9/1/2045

$103,297

10.

$92,994

FNMA Pool #AS7736, 3.000%;
Due 8/1/2046

$92,483

 

 

Updated Data Date

Saturday, September 30, 2017

Asset Percentage

22.50%