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CalPERS to put up to $18bn into enhanced index

US – The 155.8 billion-dollar (128.5 billion-euro) US pension fund CalPERS plans to put up to 18 billion dollars into enhanced index investment strategies.

“CalPERS expects to eventually dedicate 10%-20% of its 90 billion dollar global equity portfolio to enhanced index investment strategies,” the fund said in a statement.

CalPERS, the California Public Employees' Retirement System, is the largest US pension fund. It said it would begin searching for enhanced index managers for US stocks early next year “in an effort to boost investment returns while minimizing risk”.

“Enhanced indexing is a lower-risk investment strategy that still uses an active investment approach,” it added

CalPERS also said that Vincent Brown, deputy executive officer for operations, has joined the California Controller’s Office as chief operations officer. “Recruitment for his replacement will begin soon.”

The fund’s board of administration is set to meet on December 12, 15-17. Its investment committee will review the fund’s currency overlay managers.

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