CalPERS says consultants could do better
CalPERS is happy with its consultants, except for their performance in recommending ways to control fees and costs and their presentation of new investment ideas, a board rating reveals.
Dynamic diversification: CalSTRS One Fund approach navigates uncertainty
Scott Chan is shocked the market hasn't reacted more to the crisis emulating from the US-Israel-Iran conflict. But the CalSTRS CIO is confident its one fund approach allows it to position dynamically and ensure diversification no matter what is presented.
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A strategy to believe in
Nevada’s public pension plan only pays 11 bps in total costs due to 80 per cent of the fund being indexed. But CIO Steve Edmundson says low fees are a byproduct, not the reason for the strategy.
CalPERS ups transparency
CalPERS has expanded its tracking of strategic metrics in its ongoing review of performance, which could lead to some tough queries making their way into online recordings of board sessions.
CalPERS mulls leverage
The board of the United States’ largest pension fund calls in the experts as it considers applying leverage in its portfolio, part of efforts to improve a 68 per cent liability-funding ratio.
Equity risk premium appears intact
The equity risk premium will reflect long-term averages, based in part on a Financial Analysts Journal article that shows buybacks are now top drivers of equity returns, replacing dividends.
Return targets head downward
The challenging market environment is putting pressure on pension funds. In response, many are lowering return targets, rather than taking on more risk or requesting larger contributions.
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