The California Public Employees' Retirement System (CalPERS) is the largest public pension fund in the United States, with approximately $444 billion in assets as at January, 2021. It provides retirement benefits to state, public school, and local public agency employees, retirees, and their families.
The CEO of CalPERS Marcie Frost has a big year ahead. Not only is the fund still searching for a CIO, but it will also conduct its four-yearly asset liability study this year. Frost speaks to Amanda White about the challenges of the top job at the largest fund in the US and how she works to make sure the “real story” of CalPERS gets told.
The CalPERS board will make a decision next week on whether to include a long-term incentive compensation element as part of an incoming CIO’s remuneration package, something that the fund's chief executive, Marcie Frost, said is a contributing factor to the fund putting its search for a new investment head on hold.
Amanda WhiteApril 16, 2021
The Global Pension Transparency Benchmark revealed the need for much improved transparency among pension fund public disclosures across the globe. But there were some notable best practice examples among pension funds globally. So who were they?
Amanda WhiteFebruary 18, 2021
The CalPERS board is considering whether to require a new CIO to transfer all of their personal stock holdings into a blind trust while they are a CalPERS' employee. The move follows the resignation of Ben Meng as CIO last year after an ethics investigation related to some of his personal investments.
Amanda WhiteFebruary 2, 2021
The momentum around diversity and inclusion in the investment industry continues as consulting firms put pressure on asset managers to report on diversity and institutional investors in Canada and the US commit to solving inequities related to diversity.
Climate Action 100+ illustrates asset owners’ ability to come together to solve the tragedy of the commons, said Anne Simpson, managing investment director, board governance and sustainability at US pension giant CalPERS. She said once investors realise that risk and return comes from managing financial, human and natural capital then ESG became a fundamental part of investing.
Five years on since the SDGs were launched, an increasing number of investors are putting capital to work to earn returns alongside helping solve global scourges like the climate crisis, poverty and inequality. Sarah Rundell looks at New York Common Fund and Denmark's PKA among others.