Calpers

CalPERS to Cut Investment Fees by 8 Percent Next Year

CalPERS calculates that it will cut investment-related fees by 8 percent in fiscal year 2015-16, according to a report by Bloomberg. The pension fund has been looking to cut costs recently by reducing the number of private equity managers it invests with and moving more investment management in-house. According to CalPERS’ proposed budget, obtained ...
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Reform Measure Aimed at CalPERS Could Appear on California Ballot by 2016

Back in November, Pension360 covered former San Jose Mayor Chuck Reed’s intention to keep pushing for pension reform even after leaving office. According to a Reuters report, he’s following through: Reed, along with a coalition of business leaders and politicians, is launching a push to get a pension reform measure on the statewide ballot. Details ...
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CalPERS, CalSTRS to Step Up Climate Change Engagement Efforts

CalPERS and CalSTRS have issued a joint statement recounting their track records on engaging corporations on the topic of climate change. The statement also outlines future initiatives aimed at stepping up their corporate engagement on the sustainability front. From the statement: We recognize climate change as a material risk to society, the economy, ...
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CalPERS Invests $211 Million in U.S. Apartments

CalPERS has committed an additional $211 million to a partnership that invests in apartments in the Western half of the United States. More details from IP Real Estate: California Public Employees Retirement System (CalPERS) has made a new $211m (€186.7m) allocation to the Pacific Multifamily Investors partnership. […] Pacific will buy apartment ...
Golden Gate Bridge

San Francisco Pension Approves 5 Percent Allocation to Hedge Funds

After months of discussion and delays, the San Francisco Employees Retirement System on Wednesday voted to invest up to 5 percent of its assets in hedge funds. The pension fund has not previously invested in hedge funds. Its investment staff had previously recommended a 10 and a 15 percent allocation, but the board voted 6-1 for a 5 percent investment. More ...
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CalPERS Members Affected by Anthem Hack

Last week’s hack of health insurance provider Anthem Blue Cross exposed millions of Americans to the threat of identity theft – including thousands of members of the California Public Employees Retirement System (CalPERS). The hackers allegedly stole personal data such as social security numbers, addresses, names, email addresses and birthdays. According ...
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San Bernardino, Bondholders Trade Jabs in Court

A few of San Bernardino’s biggest creditors admitted in court on Wednesday that they are doing everything they can to prevent the city from going through with its current bankruptcy plan – which involves paying CalPERS in full, but shorting other bondholders. The creditors argued that all creditors – including CalPERS – should be treated with ...
Calpers

CalPERS Board to Study Impact of Income Inequality on Pension Funds

CalPERS’ Board of Administration will discuss the impact of income inequality on institutional investors at their next meeting, according to slides made available on the pension fund’s website. The Board of Administration’s investment committee will discuss the issue next week. More from the National Law Review: The slide presentation prepared ...
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California Bill Would Force CalPERS, CalSTRS To Divest From Coal

California Senate President Kevin de Leon has introduced a bill that would force the state’s pension funds to exit all coal investments. Additionally, CalSTRS and CalPERS would be prohibited from making new coal investments until 18 months after the bill becomes law. De Leon hinted in November that he would introduce such a bill, and the pension ...
Calpers

For CalPERS CIO, Lack of Stock and Bond Experience Not a Problem

The LA Times on Sunday published an interesting and thorough profile of CalPERS chief investment officer Ted Eliopoulos. It chronicles Eliopoulos’ beginnings as an Ivy League tennis star, his appointment to CIO of the country’s largest public pension fund, and his headline-making decision to pull out from hedge funds. The piece also dives into ...
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