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

TPA to usher in clearer accountability at CalPERS

Darcy Song

June 16, 2026

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

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

Rethinking investment performance attribution

As asset owners move away from silo-based investment decision making, their performance attribution systems also need to evolve. The Alberta Investment Management Corporation AimCo, the C$70 billion arm’s length investment manager for public sector assets in Alberta, Canada, has implemented a new performance attribution system based on how managers actually make their investment decisions.  

Amanda White

December 03, 2014

Benchmark design for an active investment process

Choosing the appropriate benchmark for active managers is a common debate among institutional investors. Norges Bank Investment Management has produced a “discussion note’ on the benchmark design for an active investment process, in which it introduces a flexible modelling framework that aims to incentivise each portfolio manager to utilise their stock-picking skill.   The benchmark

Amanda White

November 28, 2014

SSgA focuses on innovation not assets

For Scott Powers, president and chief executive of State Street Global Advisors, assets under management is not a measure of success – the manager is currently the world’s fourth largest with around $2.5 trillion. Instead it is the ability to provide value for clients in meeting their objectives – whether it be matching liabilities, creating

Amanda White

November 14, 2014

Pension funds put pressure on G20 tax reform

Pension funds are becoming vocal ahead of the G20 leaders summit next week, reiterating the need for action over tax reform, and encouraging world leaders to consider financial reform that encourages long-term investing. The UK’s Local Authority Pension Fund Forum, which is a collaborative shareholder engagement group of 61 local authority pension funds with combined

Amanda White

November 12, 2014

G20 urged to develop policies to support long-term investment

The Fiduciary Investors Symposium (FIS) at Harvard University has identified several of the key barriers to pension funds, endowments and sovereign wealth funds adopting more effective long-term and sustainable investment strategies, and is preparing a communiqué to the upcoming meeting of the G20 to convey its concerns and its policy requirements. FIS, organised and hosted

Simon Hoyle

October 27, 2014

Future Fund focuses on finding the best people

Australia’s sovereign wealth fund, the A$101 billion Future Fund, has just upped the stakes in not only attracting the best co-investment deals from fund managers, but in its bid to attract the world’s best investment professionals. Two months ago the fund’s long serving chief investment officer, David Neal, become chief executive in name (following the

David Rowley

October 17, 2014

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