The Police Retirement System of St. Louis, Missouri

By almost any objective measure, Fiscal Year 2022 was a challenging year for all investors, even institutional investors like pension systems.  Inflation, supply chain issues, the Fed raising interest rates multiple times – these were all factors causing volatility in the economy and wild fluctuations in investments.

After achieving investment gains in Fiscal Years 2016, 2017, 2018, 2019, 2020 and 2021 – an unprecedented streak of plus returns – the Police Retirement System had a negative return in Fiscal Year 2022.  As the TV ad disclaimer says:  “Investing involves the risk of loss.”  Even taking the FY22 losses into account, it is estimated that the System’s collective returns on investments, net of fees, over the last seven years has shown a gain of about 45 percent.

Recently, some uninformed and inaccurate public statements were made about PRS investments – that PRS is heavily invested in “emerging markets”; that PRS is heavily invested in China; that PRS is invested in “green energy”; and that PRS is heavily invested in “risky investments.”

All of the above statements are false or greatly exaggerated.

And of all public pension funds nationwide, in Fiscal Year 2022 PRS performance was in the top 16 percent – meaning we did better than 84 percent of all public pension funds.

For a more detailed explanation, click the below link for a Memo from Marquette Associates, our outsourced chief investment officer.

We just wanted you to know actual facts, not unsupported claims.

Marquette Memo to PRS on FY22 Performance