A distant view shows a mountainous landscape with sloping peaks, green trees in the foreground, and a cloudy sky above.


<h2 class="wp-block-heading">Overview</h2>



<p>Stewardship is at the heart of PERA&#8217;s mission. As stewards of the state&#8217;s largest public retirement system, we manage approximately $67 billion in assets on behalf of more than 700,000 members and benefit recipients. That is a tremendous responsibility, and one we accept wholeheartedly.</p>



<p>In compliance with our fiduciary duty, PERA is committed to prioritizing the long-term financial sustainability of the Fund through our investments. Toward that end, we pursue the most attractive returns relative to risk across diverse asset classes, a broad investible universe, and a long-term horizon.</p>



<h3 class="wp-block-heading">PERA’s investment stewardship revolves around four key practices for financial sustainability:</h3>



<ul>
<li><strong>Protect:</strong>&nbsp;We protect members’ interests by being mindful of investment costs</li>



<li><strong>Integrate:</strong>&nbsp;We integrate all financially material factors into our investment decisions</li>



<li><strong>Advocate:</strong>&nbsp;We advocate for robust market practices that are aligned with the interests of long-term investors</li>



<li><strong>Evaluate:</strong>&nbsp;We evaluate our portfolios on an ongoing basis and through various lenses to assess underlying attributes</li>
</ul>



<div class="wp-block-advgb-accordions advgb-accordions-2965185a-97d2-460f-ba3b-a16ec74a2265 advgb-accordion-wrapper">
<div class="wp-block-advgb-accordion-item advgb-accordion-item" style="margin-bottom:15px"><div class="advgb-accordion-header" style="background-color:#000;color:#eee;border-style:solid;border-width:1px;border-radius:2px"><span class="advgb-accordion-header-icon"><svg fill="#fff" xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24"><path fill="none" d="M0,0h24v24H0V0z"></path><path d="M12,5.83L15.17,9l1.41-1.41L12,3L7.41,7.59L8.83,9L12,5.83z M12,18.17L8.83,15l-1.41,1.41L12,21l4.59-4.59L15.17,15 L12,18.17z"></path></svg></span><h4 class="advgb-accordion-header-title" style="color:inherit">Reports</h4></div><div class="advgb-accordion-body" style="border-style:solid !important;border-width:1px !important;border-color:undefined !important;border-top:none !important;border-radius:2px !important">
<p>In response to interest from PERA’s stakeholders, we are pleased to present our annual&nbsp;Investment Stewardship Report&nbsp;and supplemental resources. PERA’s stewardship approach adheres to our&nbsp;investment policies&nbsp;by maintaining focus on maximizing risk-adjusted returns across the Total Fund, in line with our mission to provide retirement security for our members while ensuring the sustainability of the fund. To learn more about PERA’s financially sustainable investment practices we invite you to explore and download these resources:</p>



<p>This <strong>Infographic</strong>&nbsp;is a snapshot of interesting quantified facts related to PERA’s investment stewardship.</p>


<div class="document_era list">
		<div class="col-md-12">
									<p><a class="doc_block" href="https://content.copera.org/wp-content/uploads/2025/06/Stewardship-Infographic-2025.pdf" target="_blank"><img decoding="async" src="https://content.copera.org/wp-content/themes/planeteria-plane/img/PDF.svg" class="img_icon" alt="download this document" width="17px"><span>Investment Stewardship Infographic</span></a></p>
							</div>
</div>



<p>The <strong>Investment Stewardship Report</strong>&nbsp;is a comprehensive look at PERA’s philosophy and key practices for serving as responsible stewards of plan assets, PERA’s portfolio exposures to various environmental, social, and governance (ESG) factors, and PERA’s perspectives on related matters, including divestment.</p>


<div class="document_era list">
		<div class="col-md-12">
									<p><a class="doc_block" href="https://content.copera.org/wp-content/uploads/2025/06/Stewardship-Report-2025.pdf" target="_blank"><img decoding="async" src="https://content.copera.org/wp-content/themes/planeteria-plane/img/PDF.svg" class="img_icon" alt="download this document" width="17px"><span>Investment Stewardship Report</span></a></p>
							</div>
</div>



<p>The&nbsp;<strong>Investment Stewardship Overview</strong>&nbsp;is a brief summary&nbsp;of PERA’s philosophy and approach to investment stewardship, along with facts and figures related to our four key stewardship practices.</p>


<div class="document_era list">
		<div class="col-md-12">
									<p><a class="doc_block" href="https://content.copera.org/wp-content/uploads/2025/06/Stewardship-Overview-2025.pdf" target="_blank"><img decoding="async" src="https://content.copera.org/wp-content/themes/planeteria-plane/img/PDF.svg" class="img_icon" alt="download this document" width="17px"><span>Investment Stewardship Overview</span></a></p>
							</div>
</div>




</div></div>
</div>



<div class="wp-block-advgb-accordions advgb-accordions-df6829e9-3a56-4d8f-ae48-9f3a6133dfcb advgb-accordion-wrapper">
<div class="wp-block-advgb-accordion-item advgb-accordion-item" style="margin-bottom:15px"><div class="advgb-accordion-header" style="background-color:#000;color:#eee;border-style:solid;border-width:1px;border-radius:2px"><span class="advgb-accordion-header-icon"><svg fill="#fff" xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24"><path fill="none" d="M0,0h24v24H0V0z"></path><path d="M12,5.83L15.17,9l1.41-1.41L12,3L7.41,7.59L8.83,9L12,5.83z M12,18.17L8.83,15l-1.41,1.41L12,21l4.59-4.59L15.17,15 L12,18.17z"></path></svg></span><h4 class="advgb-accordion-header-title" style="color:inherit">Video: Risks and Opportunities (1 min)</h4></div><div class="advgb-accordion-body" style="border-style:solid !important;border-width:1px !important;border-color:undefined !important;border-top:none !important;border-radius:2px !important">
<figure class="wp-block-embed is-type-video is-provider-vimeo wp-block-embed-vimeo"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Risks and Opportunities" src="https://player.vimeo.com/video/756477551?dnt=1&amp;app_id=122963" width="640" height="366" frameborder="0" allow="autoplay; fullscreen; picture-in-picture; clipboard-write; encrypted-media; web-share"></iframe>
</div></figure>
</div></div>
</div>



<h3 class="wp-block-heading">&nbsp;Video: Prioritizing Financial Value Over Personal or Political Values (2&nbsp;min)</h3>



<figure class="wp-block-embed is-type-video is-provider-vimeo wp-block-embed-vimeo wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Prioritizing Financial Value Over Personal or Political Values" src="https://player.vimeo.com/video/863343330?dnt=1&amp;app_id=122963" width="640" height="360" frameborder="0" allow="autoplay; fullscreen; picture-in-picture; clipboard-write; encrypted-media; web-share"></iframe>
</div></figure>
