CalPERS considers water bonds
The $178 billion CalPERS is considering inflation-linked assets, such as the water bonds issued by the World Bank, as part of an over-riding view to allocate capital to climate change initiatives.
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Institutional influence shaping hedge fund investments
Janine Baldridge, Russell Investments’ global head of consulting and advisory services, talks to Kristen Paech about the new terms pension funds are demanding from their hedge fund managers – including lower fees and more control – and how managers are responding.
Alpha under threat if organisational risk ignored
ReGroup is one of four firms providing resources to CalPERS as it embarks on its governance/risk management initiative. President and chief executive of the firm, Ann Oglanian, speaks with Amanda White about risk management best practice and how pension funds can initiate organisational risk management change.
CalPERS limits derivatives use
In line with its recently-approved leverage policy, the $181 billion fund for Californian public employees, CalPERS, has reviewed its derivatives policy for global equities, with notional leverage constrained to a new limit of 10 per cent of the value of the global equities portfolio.
CalPERS officially alters asset allocation, reduces discretionary ranges
The $183 billion CalPERS board has made the first formal changes to its asset allocation targets since January 2008, increasing exposures to private equity and cash, and narrowing the discretionary ranges around all asset classes set in December last year.
…as consultant assessment initiates changes to internal equity team and technology
CalPERS has reached its capacity to internally manage equities portfolios and would need to make changes to technology and staff resources if the internally-managed equities program is expanded, according to the outcome of the annual consultant review of CalPERS’ internal equity team by Wilshire Associates.
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