California Public Employees Retirement System
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CalPERS looks to lower return expectations
trueCalPERS officials want to lower the pension fund's volatility by reducing the system's 7.5% assumed rate of return over time.
CalPERS highlights corporate governance progress
trueCalPERS “made significant progress” in moving companies toward its corporate governance point of view on proxy access and climate risk reporting, among other objectives, the Sacramento-based $302.2 billion pension fund announced Wednesday in reporting outcomes of its proxy voting and engagement ...
CalPERS' fiscal year return is credit negative for the state — Moody's
trueCalPERS' announcement that its preliminary investment return for the fiscal year ended June 30 was 2.4%, compared with its 7.5% assumed rate of return, will increase funding costs for government units that contribute to the plan and could cause rating downgrades, said a report by Moody's Investors ...
CalPERS returns 2.4% for fiscal year
trueCalPERS reported investment returns of 2.4% for the fiscal year ended June 30, below both its assumed rate of return and its custom benchmark.
CalPERS to release private equity carried interest data
trueCalPERS officials said Thursday that the fund for the first time will be reporting performance fees it pays to private equity firms, ending a mystery of just how costly it is for the nation's largest defined benefit plan to work with general partners.
CalPERS taps Park Hill to sell $3 billion in real estate on secondary market
trueCalPERS hired Park Hill Group to assist in selling up to $3 billion of its $25.5 billion real estate portfolio on the secondary market.
CalPERS hampered by fee complications
trueCalPERS officials, embarking on a major project to cut the fund's roster of external money managers and reduce fees, are blindfolded because they can't track what is being paid to private equity firms, the most fee-intensive group.
CalPERS private equity program performance
trueSince inception in 1990 through Sept. 30, investment multiples have ranged from 4.4x for CalPERS' investment in the Newbridge Asia III fund, to zero for its American River Ventures I holding.
California Senate passes bill requiring CalPERS, CalSTRS to divest from coal
trueThe California Senate voted 22-14 in favor of legislation calling on both CalPERS and CalSTRS to divest from investments in coal companies.
BlackRock, Ceres create ESG governance guide for institutional investors
trueBlackRock teamed up with Ceres to create a guide for U.S. institutional investors on engaging with companies and policymakers on sustainability issues, the two institutions announced Thursday.
Chevron shareholders support proxy-access proposal; near majority at Exxon Mobil
trueChevron Corp. shareholders voted 55% in support of a proxy-access proposal, while Exxon Mobil Corp. shareholders voted 49.4% in favor of a similar access proposal, according to preliminary voting results of the companies' annual meetings Wednesday.
Proxy-access proposal at Chevron gaining pension fund support
truePension funds have lined up in support of a proxy-access proposal filed by the New York City Retirement Systems at Chevron Corp., according to their proxy-voting disclosures.
CalPERS to launch pilot program for ESG criteria next month
trueCalPERS next month will begin a one-year pilot program of its sustainable investment guidelines, the latest phase in its multiyear project to integrate ESG manager expectations across all asset classes.
Large pension fund fiduciaries fire back at share-buyback policies
trueThe chief financial officers of two large states and two large cities on Wednesday issued an open letter in their role as pension fiduciaries criticizing the practice of share-buybacks by corporations and questioning whether companies “are adequately reinvesting for sustainable returns over the ...
CalPERS to invest A$1 billion in Asia-Pacific infrastructure with QIC
trueCalPERS entered into a partnership with Australian money manager QIC, which will run A$1 billion ($805 million) in a customized Asia-Pacific infrastructure portfolio.