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CalPERS Achieves 6.7% Investment Return

CalPERS reported a preliminary 6.7% net return on investments for the 12‐month period that ended June 30, 2019. CalPERS assets at the end of the fiscal year stood at more than $370 billion.

CalPERS chief investment officer Yu (Ben) Meng says, “This was a very volatile year for financial markets, but I’m pleased with how we focused on the performance of the total fund. We saw good returns in several key areas. Our long duration fixed income portfolio contributed positively as interest rates fell.”

The state pension fund fell short of its 7% actuarial return target this fiscal year, though Meng pointed out “we are long-term investors.”

Drivers of the return included the Fixed Income program, which generated a 9.6% net return, followed by Private Equity and Public Equity net returns of 7.7% and 6.1% returns respectively.

The funded status of the overall CalPERS fund is an estimated 70%, down less than a percentage point from fiscal year 2017-18, and is based on a 7% discount rate.

This year’s return brings total fund performance to 5.8% for the five-year time period, 9.1% for the 10-year time period, and 5.8% for the 20-year time period. Over the past 30 years, the CalPERS fund has returned an average of 8.1% annually.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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