Investment risks rank highest for CalPERS
Investment controls and systems remain the highest risk at CalPERS according to its year-end enterprise risk dashboard.
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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.
CalPERS warns on pension reforms
CalPERS has raised concerns that California Governor Edmund G. Brown Jr’s plan for a hybrid defined contribution (DC) and defined benefit (DB) public pension system could lead to a more conservative investment strategy and threaten the actuarial soundness of its existing DB scheme. The $225.2 billion fund released a working paper on Governor Brown’s 12-point
Public funds stick to aggressive targets
As US public pension funds grapple with the thorny question of what is an achievable rate of return, a survey of 126 public pension funds has revealed the median actuarial rate of return remains at 8 per cent.
Private engagement dominates results for CalPERS
Private engagement has more influence on company behaviour and performance a new study of CalPERS’ corporate governance reveals. Analysis by Wilshire Associates has found that because privately engaged companies are more receptive to reform and move more quickly to better governance standards, the turnaround in their stock performance is quicker. It found that the turnaround
CalPERS to move $1bn fixed income in-house
CalPERS plans to move $1 billion of its externally-managed international fixed income portfolio in-house in the next 12 months, but it will require board approval to do so.
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