CalPERS says it beats benchmark by over 2%
US – CalPERS has said it returned 29.6% in the one-year period to the end of March, taking its assets to 165.8 billion dollars and beating its benchmark by more than two percent.
"This has been an extremely good year for our fund," said California Public Employees' Retirement System chief investment officer Mark Anson. "Our disciplined investment strategy help us beat our benchmark by more than two percent. Our U.S. stocks alone surpassed all comparable indexes."
The Sacramento-based fund said its US equity portfolio, which is largely indexed to the Wilshire 2500, returned 38.3% - compared to a 32.4% rise in the Dow Jones Industrial Index and a 35% return for the S&P 500.
International equities earned 57.7% and hedge fund investments returned 16.7%.
It added that its investments in funds that use corporate governance strategies to turn around ailing companies gained 68.5%.
International fixed income gained 17.2% and US fixed income investments was up 10.3%, “more than three percentage points over the benchmark”. Real estate gained 10.7%.
The portfolio allocation is 66% equities, 28% fixed income and six percent real estate.
The scheme said earlier this week that it selected a pool of four consultants to assist it in special projects.