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Investor Profile

CalPERS board’s divestment dilemmas

The merits of tracking divested dollars, and the value of data illustrating what the pension fund has missed out on was the topic of much debate at the December CalPERS board meeting. In 2021 the fund will review six divestment programs across tobacco, firearms, coal, Iran, Sudan and emerging market equity principles.
Strategy

Tough times greet new CalPERS CIO

Ben Meng isn’t easing into his role. The new CIO of CalPERS faces three new board members, a stressed private equity program and executive turnover, all under the pressure of a 70 per cent funded status and a maturing membership at the $340 billion fund.