CalPERS to cut external fees

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Total cost shakedown at CalPERS

Up to 8.9 basis points will be slashed from the total cost of managing the CalPERS’ investment portfolio in the next three years, under a new investment resource strategy which could also see internal administration costs increase by $6.5 million next year, and internal staff accountable for internal versus external management allocations. The internal investment […]

Amanda WhiteMarch 28, 2012

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CalPERS saves $20m a year on fees

CalPERS has negotiated about $20 million in annual cost savings through a reduction of fees in its alternatives manager program and millions saved through a renegotiated contract with UBS.

Amanda WhiteDecember 14, 2011

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CalPERS to slash fees in wake of $1bn external spend

CalPERS will set an external fee reduction target for the financial year, in light of the fact it spent more than $1 billion on external asset management fees in 2009-2010 and only a relatively modest $29.5 million on investment office personnel services including salaries.

Amanda WhiteMarch 16, 2011