Become a member and subscribe Login

CalPERS gives external managers one more year, pending review

Amanda White

November 19, 2009

CalPERS has extended the mandates of its external global equities managers by one year to enable staff to complete the asset class review, which will produce a recommendation about the role of external managers in the portfolio.

The $201.3 billion fund also extended the mandates of its nine external global fixed income managers, with all contracts having a one-year renewable extensions without termination dates, contingent upon investment committee approval. CalPERS can terminate these agreements upon 30 days notice.

In a letter to chief investment officer Joe Dear, consultant Andrew Junkin, managing director of Wilshire Associates, recommended an extension of the contracts in light of the overarching review of global equities so that no unnecessary structural changes or transactions costs would be forced onto the portfolio.

The review of global equities includes staff moving towards a more holistic implementation of the portfolio. At the December investment committee meeting, Wilshire and CalPERS staff are due to provide an update of the project, plus more specific recommendations about the role of external managers in the portfolio.

CalPERS’ external managers are:

Sponsored Content

Domestic equities

  • AllianceBernstein
  • Analytical Investors
  • The Boston Company
  • First Quadrant
  • Golden Capital Management
  • INTECH Investment Management
  • JP Morgan Investment Management
  • Marvin & Palmer Associates
  • Pzena Investment Management
  • Quantitative Management Associates
  • T Rowe Price
  • Turner Investment Partners

International equities

  • Alliance Bernstein
  • Arrowstreet Capital
  • AXA Rosenberg
  • Baillie Gifford Overseas
  • Grantham, Mayo Van Otterloo
  • Nomura Asset Management
  • Pyramis Global Advisors

Emerging markets equities

  • AllianceBernstein
  • Batterymarch Financial Management
  • Dimensional Fund Advisors
  • Genesis Investment Management
  • Lazard Asset Management
  • Pictet Asset Management

Environmental Managers

  • AXA Rosenberg
  • Global Currents Investment Management
  • New Amsterdam Partners
  • State Street Global – US
  • State Street Global – International

Emerging manager fund of funds

  • FIS Group
  • Leading Edge Investment Advisors

Asset Owner:California Public Employees Retirement System (CalPERS)

Leave a Comment

More from this fund

CalPERS ties pay to collaboration, total fund results under TPA

Darcy Song

April 14, 2026

CalPERS board warned of risks in AI investments including China innovation

Sarah Rundell

February 04, 2026

Proxy voting: Trump tightens the screws, but sole reliance on proxies rare

Sarah Rundell

January 08, 2026

How CalPERS aims to add 50-60 bps using TPA

Amanda White

December 16, 2025

Photo gallery: FIS 2026 at Raffles Singapore

Photo gallery: FIS 2026 at Raffles Singapore

mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Jack Smith

March 31, 2026

Steering portfolios through a fragmented world

Simon Hoyle

March 26, 2026

Combating geopolitical and economic headwinds by going global in fixed income

Leng Ohlsson

April 14, 2025

UK pension funds rue pressure to focus on the short term and group think

Sarah Rundell

December 06, 2024

SWIB develops model to highlight inflation risk

Sarah Rundell

December 06, 2024

Sort content by

Experts mull strategies in slow growth climate

Speaking at the Fiduciary Investors Symposium at Oxford University’s Rhodes House Fiona Trafford-Walker, director of consulting at Frontier Advisors argues that Australian investors are operating in a changed environment and need to “get used to slower economic growth.” Speaking as part of an expert panel on how the continued environment of slow growth and low

Sarah Rundell

April 21, 2015

Macro diversification: How do investors diversify risk?

“Geopolitics does matter and how to navigate geopolitical events on a portfolio is challenging,” argues Tom Clarke, partner and portfolio manager at William Blair speaking at the Fiduciary Investors Symposium at Rhodes House, Oxford University. In a session dedicated to macro strategies for investors to best navigate today’s complex investment universe and diversify risk, Clarke argues that “hiding” from

Sarah Rundell

April 21, 2015

Oxford Professor urges urgent European reform

The University of Oxford’s distinguished Professor of Economics David Vines predicted the ongoing crisis in Europe will turn into a “train wreck with implications for investors” unless governments undertake significant reforms. He urges for large write downs of the sovereign debt of southern European countries, a loosening of austerity in those countries and a significant

Sarah Rundell

April 20, 2015

Indexing pressure improves active management

A new study of active and indexed-based mutual funds shows the impact of different countries’ regulatory and financial market environments. The study finds that the average alpha generated by active management is higher in countries with more explicit indexing and lower in countries with more closet indexing. The evidence suggests that explicit indexing improves competition in the mutual fund

Amanda White

April 17, 2015

Investors need to revamp portfolio construction

Investors should re-consider their investment processes in order to achieve the needed “step-change in efficient portfolio construction” in a low return environment, the chief executive of the A$109 billion ($83 billion) Future Fund, David Neal, says. “It is the investment process that turns the universe of opportunities into a portfolio, and right now that process

Amanda White

April 01, 2015

Investors need to rethink operating model

A neat little story of investment flows, asset allocation changes, and relationship and service demands is emerging from the third annual Top1000funds.com/Casey Quirk Global Fiduciary CIO Survey. If you’re a CIO of an asset owner what that means is more control but also more responsibilities and the demands of more internal resources. For managers it

Amanda White

March 25, 2015

Previous
Load more

Fiduciary Investors Podcast Series

Listen to Podcast

Subscribe now to

Become a member and subscribe

Join Now
Our partners

Top1000funds.com is the market leading news and analysis site for the world’s largest institutional investors. It focuses on leading the global investment industry to continuous improvement through case studies of best practice in governance and decision making, portfolio construction and efficient portfolio management, fees and costs, and sustainable investing.

The publication pushes the industry to question whether status quo processes and behaviours to tackle risks and opportunities will be sufficient in the future, and actively campaigns for diversity, sustainability, transparency, innovation and better alignment of fees in the investment industry.

Top1000funds.com is read by investment professionals in more than 40 countries.

Privacy Policy | Terms of Service | Cookie Policy | AI Editorial Policy