CalPERS Fires Bulk of Equity Managers

The $380 billion California Public Employees’ Retirement System (CalPERS), the largest in the U.S., has fired most of its external equity managers, cutting their allocation from $33.6 billion to $5.5 billion. This according to a recent article in Chief Investment Officer. The news was reported in an October memo to CalPERS board members that noted only three of the 17 external equity managers survived the cuts and that the move is in response to the… Read More

CalPERS Moves $150 billion Under New Strategic Asset Allocation

As part of the implementation of a new strategic asset allocation adopted in December 2017, the California Public Employees’ Retirement System shifter $150 billion. This according to an article in Pensions & Investments. “The pension fund’s strategic asset allocation implementation includes 15% invested in a new factor-weighted equity portfolio, as well as 35% in capitalization-weighted equities and 8% in private equity, which together make up its 58% growth portfolio,” the article reports. The fund also… Read More

CalPERS Urged to Exceed 7% Return Projections

Concerns that municipalities won’t be able to meet pension payment requirements has led the League of California Cities to urge the CalPERS Investment Committee to think “out of the box” to surpass its current 7% return projections. This according to a recent article in Chief Investment Officer. At a recent meeting with the investment committee, legislative representative Dane Hutchings cited a CalPERS report showing that 180 of 449 participating cities and towns had an individual… Read More