Asset Allocation
CalPERS Reports Preliminary Return of 21.3% for 2020-21
The strong performance triggers a reduction in the assumed rate of return to 6.8%.
Tag: California Public Employees’ Retirement System
Corporate Moves
CalPERS Appoints Marlene Timberlake D’Adamo First DEI Officer
The former chief compliance officer at the $466 billion pension fund is moving into the newly permanent position.
Pensions
CalPERS Sues Former Employee for Allegedly Stealing Pension Money
More than $685,000 was stolen from 10 retirees, including a homeless person and beneficiaries under legal conservatorships, the fund said in its lawsuit.
Pensions
CalPERS Suspends Search for New CIO
Pension system officials say they won’t restart the search until early July, and they didn’t offer a timetable as to when a new person will take the job.
Asset Management Culture
World’s Top Carbon Offenders Need to Step Up, Says Investor Group
Investors managing more than $54 trillion says firms require clear short- and medium-term targets and related capital expenditures.
Asset Management Culture
Controversy Still Follows CalPERS’ CIO Resignation
More than a half-year after Ben Meng resigned, a lawsuit and pending pension system policy decisions are bringing his departure back into the limelight.
Newsmakers
State Employee Retirements at CalPERS Jump 15% in 2020
The pension system says the spike was ‘predicted’ and figured into planning for the $389 billion fund.
Asset Management Culture
CalPERS Not Ready to Pick CIO
Several finalists have been interviewed for the top spot, but an expected January decision has been delayed.
Asset Management Culture
New CalPERS CIO Could See $2.4 Million Payout
That compensation is tied to five-year goals as part of an effort to reduce turnover at the largest public pension in the US.
Asset Management Culture
CalPERS Taps Yup Kim as Private Equity Investment Director
He joins the $407.5 billion pension giant from Alaska’s sovereign wealth fund.
Asset Allocation
Just Minor Adjustments to Portfolio Are the Smartest Move, 3 Key CIOs Say
A trio of investment chiefs overseeing a half-trillion dollars are preparing their funds for low interest rates without drastically overhauling portfolios.
Asset Management Culture
New Investment Restrictions Coming for CalPERS CIO
The resignation of CalPERS CIO Ben Meng on ethics charges revolving around his investments spurred board to review new restrictions.
Asset Management Culture
Investor-Led Climate Action 100+ to Judge Companies on Sustainable Benchmark
The standard developed by the global alliance of allocators and EY Consulting will be released next year to assess which businesses are leading the transition to net-zero carbon.
Pensions
CalPERS Retirees Call for Board President to Resign
The demand for Henry Jones’ ouster is the latest fallout from the resignation of CalPERS CIO Ben Meng following complaints he violated state ethics rules.
Asset Allocation
CalPERS Sells Apple Stock, Invests in Microchips, Pharmaceuticals, Cannabis
The iPhone maker has enjoyed a large rally, but an ongoing trade war with China and the possibility of increasing regulation after a November election have dampened investor enthusiasm.