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CalPERS Returns 8.6% for Fiscal Year, Underperforms Benchmark
Sacramento-based California Public Employees’ Retirement System’s (CalPERS) reported an underperformance of 6 basis points for its fiscal year, even as the pension’s funded status rose to 71% from 68% the previous year, according to preliminary reports. CalPERS reported a net return of 8.6% for the 12-month period ended June 30.
In a video reporting the results, CalPERS’ Ted Eliopoulos said “While we’ve seen some expected volatility in the markets, our diversified global portfolio has allowed us to exceed our expected rate of return of 7%.”
The strongest portfolio performance for the $354.7-billion pension fund was returned by infrastructure, real estate and public and private equities.
CalPERS’ real estate portfolio returned 6.8%, 26 basis points below its benchmark for the year.
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