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.
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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.
CalPERS assumes lower returns
CalPERS has set its latest four-yearly capital market assumptions, that feed its strategic asset allocation. The $323 billion fund expects lower returns and more volatility.
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.
CalPERS did well to snuff out tobacco
We can debate the certainty of risks and returns, but maintaining that investment in tobacco is in the best interests of ordinary workers is clearly becoming an increasingly difficult position.
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